Zapata and Special Litigation Committees: Perspectives on What’s Working, What’s Not, and How We Can Improve the Process” (April 11, 2024)

This panel was a ninety-minute interactive event.  Panelists from a wide cross-section of perspectives  discussed Zapata’s two-part test for assessing a Special Litigation Committee’s determination to terminate a derivative action.  They explored the composition, purposes, and authority of Special Litigation Committees (SLCs); the initial purposes of Zapata and its evolution over the past 40 years; and whether Zapata is working as intended or needs to be revisited.  They discussed practical takeaways for SLCs and lawyers on both sides of the “v” as they worked through these issues.  Moderated by Christine M. Mackintosh, Co-Chair of the Chancery Litigation Group at Grant & Eisenhofer, the panel included:

• The Honorable Joseph R. Slights III, Partner, Wilson Sonsini Goodrich & Rosati and former Vice Chancellor, Delaware Court of Chancery 
• Elena C. Norman, Partner, Young Conaway Stargat_t & Taylor
• Mark D. Richardson, Partner, Labaton Keller Sucharow
• David F.E. Tejtel, Principal, Friedman Oster & Tejtel