Facebook Investors' Lead Class Counsel Beats Del. Challenge

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By Andrew Strickler (November 10, 2021, 3:59 PM EST) — Any benefits of a mid-case appeal of a class-counsel leadership ruling in a Facebook security lapse litigation are likely outweighed by its disruptions and costs, Delaware’s top court has found.

A panel of the state Supreme Court agreed with a recent Chancery Court decision not to allow an interlocutory review in the ongoing stockholder suit, in which pension funds have sued over the fallout from the social media giant’s Cambridge Analytica data harvesting scandal.

Tuesday’s denial leaves in place a vice chancellor’s decision last week to deny a challenge to his appointment of Kaplan Fox & Kilsheimer LLP, Prickett Jones &…

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