Joseph Kelly v. Evan Spiegel, Derek Andersen, Robert Murphy, Michael Lynton, Kelly Coffey, Joanna Coles, Liz Jenkins, Jim Lanzone, Scott D. Miller, Patrick Spence, Poppy Thorpe, and Fidel Vargas

Summary

This document is a proposed order approving the voluntary dismissal without prejudice of a shareholder derivative action brought on behalf of Snap Inc. The dismissal is pursuant to Federal Rules of Civil Procedure 41(a)(1)(A)(ii) and 23.1(c), with each party bearing its own fees and costs. The order states that shareholder notice is unnecessary because there was no settlement, collusion, compensation, or prejudice.

Holdings

1. The court approved dismissal of the action without prejudice as to all claims and causes of action, with each party bearing its own attorneys' fees and costs.
2. Notice to shareholders was not required because the dismissal involved no settlement or compromise, there was no collusion or compensation, the dismissal was without prejudice, and the defendants would not suffer prejudice.

Questions Presented

1. Whether the court should approve the parties' voluntary dismissal of a shareholder derivative action under Federal Rules of Civil Procedure 41(a)(1)(A)(ii) and 23.1(c).
2. Whether notice to Snap Inc. shareholders was required before approving the voluntary dismissal under Rule 23.1(c).

Disposition

dismissed