Chancery OKs $110M GCI Liberty Suit Deal, $22M Fee Award

By Rose Krebs (Oct 6, 2021, 4:39 p.m. EDT) – A Delaware vice-chancellor on Tuesday approved a $ 110 million deal to end a shareholder class action lawsuit that alleged breaches of fiduciary duty under the sale of GCI Liberty Inc. to Liberty Broadband Corp., awarding $ 22 million to five companies representing investors.

But Vice Chancellor Sam Glasscock III reserved the decision on whether Bernstein Litowitz Berger & Grossmann LLP, Prickett Jones & Elliott PA, Kessler Topaz Meltzer & Check LLP, Klausner Kaufman Jensen & Levinson PA and Morris Kandinov LLP will receive $ 22 million. additional related to what they claim. have substantial benefits been obtained under a previous agreement, according to court records …

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