That task will fall to the Court of Chancery in Delaware, the state where most big American firms are incorporated, and in particular to Leo Strine, one of the court's four vice-chancellors.

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The California teachers pension fund's lawsuit, filed in the Court of Chancery in Delaware, alleges that two Wal-Mart executives engaged in opportunistic stock trades between the time the newspaper originally inquired about the story in December 2011 and when publication occurred last month.

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In this AIG case, the original June 17, 2009 opinion of the Delaware Court of Chancery affirmed a Motion to Dismiss against PwC based on a prior ruling in February of 2009.

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Increasingly, the five judges of Delaware's Court of Chancery, which traces its roots back to medieval England, have been putting their faith in the sophistication of institutional investors, the importance of independent directors and the shareholder vote.

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In a petition filed yesterday, JCI asked the Delaware Court of Chancery yesterday to dissolve the automotive Li-ion battery joint venture, Johnson Controls-Saft Advanced Power Solutions LLC (JCS), which was formed in 2006 to develop and manufacture lithium-ion automotive battery solutions.

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The complaint filed by the Hong Kong investors, which include Henry Cheng and Vincent Lo, claims Trump threatened to file a new action against them in a different court the Delaware Chancery Court to avoid the risk of sanctions.

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That prospect raised the suspicions of Delaware Chancery Court Judge Leo Strine.

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Now a detailed study of lawsuits in Delaware Chancery Court suggests the judge was onto something--at least when it comes to the lucrative practice of suing over the terms of mergers and acquisitions.

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Last week, it filed suit in Delaware Chancery Court to block Diller from carrying out the breakup of the company.

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