Olson v. Halvorsen et al.
In November and December of 2008, Jim Bennett and John Comerford successfully represented Viking Global Investors LP, a hedge fund based in New York and Greenwich, Connecticut, in a trial before Vice Chancellor Stephen P. Lamb in the Delaware Court of Chancery. Our attorneys worked in concert with another firm in representing the hedge fund and two of its founding members in a suit brought by a former founding member. The case raised issues of first impression under Delaware law regarding partnerships and limited liability companies. The case also involved the disputed calculation of the “fair value” of the departed member’s share of the ongoing enterprise under Delaware law. The Court of Chancery ruled in favor of our clients in May 2009, and the Delaware Supreme affirmed the judgment in favor of our clients in December 2009.