Clark Smith Villazor LLP Secures Favorable Ruling from Delaware Court of Chancery Securing Advancement of Legal Fees for Client

June 11, 2026

On June 10, 2026, the Delaware Court of Chancery issued a decision adopting in full the Report of Magistrate Gibbs, which had granted summary judgment in substantial part to the client of Clark Smith Villazor LLP and co-counsel Berger McDermott LLP, Arif Ahmed, in his advancement action against JPMorgan Chase & Co. and J.P. Morgan Securities LLC (“JPMorgan”).

On January 21, 2026, the magistrate issued a report resolving cross-motions for summary judgment and delivering several rulings in Mr. Ahmed’s favor, including that Mr. Ahmed is entitled to advancement of all fees, expenses, and costs under a plain reading of JPMorgan’s own Bylaws and the existing factual record. The magistrate also awarded commensurate fees-on-fees incurred in prosecuting the advancement action. The Court of Chancery adopted the report in full just one day after oral argument was held and overruled JPMorgan’s exceptions.