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IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE


CRAIG LONDON and JAMES HUNT, individually and derivatively on behalf of MA FEDERAL, INC., d/b/a iGov, a Delaware corporation,

Plaintiffs,

v.

MICHAEL TYRRELL, PATRICK NEVEN, and WALTER HUPALO,  

Defendants,

and

MA FEDERAL, INC., d/b/a iGov, a Delaware corporation,

Nominal Defendant.
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Civil Action No. 3321-CC




MEMORANDUM OPINION

Date Submitted:  December 18, 2009
Date Decided:  March 11, 2010

David A. Jenkins, Michele C. Gott, and Kathleen M. Miller, of SMITH, KATZENSTEIN & FURLOW LLP, Wilmington, Delaware, Attorneys for Plaintiffs.

Elizabeth M. McGeever and J. Clayton Athey, of PRICKETT, JONES & ELLIOTT, P.A., Wilmington, Delaware; OF COUNSEL:  John C. Hayes, Jr. and Kimberly J. Jandrain, of NIXON PEABODY LLP, Washington, District of Columbia, Attorneys for Defendants.



Art C. Aranilla, of MARSHALL, DENNEHEY, WARNER, COLEMAN & GOGGIN, Wilmington, Delaware, Attorneys for Nominal Defendant.  


















CHANDLER, Chancellor

After a four-month investigation of plaintiffs

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Delaware Law