Chancery Court docket Dismisses Wayfair Shareholder Swimsuit Over Plaintiff’s Failure to Make Pre-Swimsuit Demand

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Chancery Court Dismisses Wayfair Shareholder Suit Over Plaintiff's Failure to Make Pre-Suit Demand

The Delaware Court of Chancery dismissed an alleged derivative suit against Wayfair Inc., several of its directors and several investment companies on the grounds that the plaintiff had substantiated its decision not to file a pre-litigation claim.

Vice Chancellor Sam Glasscock III found that the plaintiff had failed to demonstrate that the defendants acted in bad faith in approving a school demolition transaction, prompting the defendants to dismiss the lawsuit.

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