Federal Court Strikes Down Private Arbitration By Delaware Chancery Judges
Delaware’s famed Chancellors are no longer available for public hire for private arbitration cases. Delaware’s experiment – good or bad – was struck down by a federal district court judge as a violation of a First Amendment rights. Steven Davidoff at DealBook has the story here. This prior post notes the filing of the lawsuit and related history regarding the private arbitrations.
LAW360 (paywall) provides an interesting summary of statements related to a planned appeal. The gist? Private arbitration and dispute resolution is big business, with many competitors, and Delaware wants to be in the mix.