Brandon v. Deason and Backdating

Delaware has again delved into the backdating scandal, refusing to stay a derivative proceeding pending resolution of a federal action filed in a different jurisdiction and involving claims under the federal securities laws.  The case, Brandon v. Deason, is nicely summarized on the Delaware Corporate and Commercial Litigation Blog, a nice site for all things Delaware.  The case demonstrates that the Delaware courts do not intend to cede away easily the development of the law in the area of backdating.