Acocelli Law, PLLC and Long Law, LLC Announce Agreement to Resolve Claim for Attorneys’ Fees and Expenses in connection with Lawsuit Pending in the Delaware Court of Chancery captioned Thompson v. QXO, Inc., C.A. No. 2026-0757-BWD (Del. Ch.)
NEW YORK and WILMINGTON, Del., Sept. 28, 2026 (GLOBE NEWSWIRE) -- The law firms of Acocelli Law, PLLC, and Long Law,
Press Release Disclaimer: This is a press release distributed through the XPR Media network. It has not been independently verified by our newsroom.
NEW YORK and WILMINGTON, Del., Sept. 28, 2026 (GLOBE NEWSWIRE) — The law firms of Acocelli Law, PLLC, and Long Law, LLC (collectively, the “Firms”), announce an agreement to resolve their application for an award of attorneys’ fees and reimbursement of expenses (the “Fee Motion”) in a lawsuit pending in the Delaware Court of Chancery (the “Court”) captioned Thompson v. QXO, Inc., C.A. No. 2026-0757-BWD (Del. Ch.) (the “Action”). The Firms, who represent the plaintiff in the Action, sought an award of attorneys’ fees and expenses for claimed corporate benefits to stockholders of defendant QXO, Inc. (“QXO”) conferred as a result of the litigation of the Action.
On June 8, 2026, plaintiff Andrew Thompson (“Plaintiff”), on behalf of himself and all other similarly situated stockholders of QXO, filed a putative class action against QXO and its directors (collectively, “Defendants” and, together with Plaintiff, the “Parties”), alleging breaches of fiduciary duty in connection with certain disclosures relating to the business combination pursuant to which QXO would acquire TopBuild Corp. (the “Transaction”).
Defendants have denied that they committed any violation of law or engaged in any of the wrongful acts that were or could have been alleged in the Action, and expressly maintain that they diligently and scrupulously complied with their fiduciary and other legal duties.
After the Complaint was filed, and without admitting that the allegations in the Complaint had any merit, and solely to avoid the costs, distractions, and uncertainties inherent in litigation, QXO issued additional disclosures on June 22, 2026, which Plaintiff contends address issues raised by the Action (the “Mooting Disclosures”).
On July 17, 2026, the Court entered an Order dismissing all claims in the Action with prejudice as to Plaintiff only, and without prejudice to any other stockholders of QXO. The Court retained jurisdiction solely to hear and determine the Fee Motion in connection with the alleged benefits conferred upon QXO’s stockholders resulting from the Mooting Disclosures.
Thereafter, counsel for the Parties engaged in arm’s-length negotiations regarding the Fee Motion. Following those negotiations, the Parties agreed to resolve the Fee Motion, with the amount of $247,500 to be paid by QXO to Plaintiff’s counsel for attorneys’ fees and expenses in full satisfaction of the Fee Motion. QXO denies any and all liability and maintains that its disclosures already contained all material information required for stockholders to cast an informed vote regarding the Transaction prior to the Mooting Disclosures, and is resolving this claim only to avoid the burden, time, and expense of litigation. The Court has not been asked to review, and will pass no judgment on, the payment of attorneys’ fees and expenses or their reasonableness.
Counsel for the Plaintiff is Richard A. Acocelli, and he may be contacted by telephone at (631) 204-6187 and by email at racocelli@acocellilaw.com. Counsel for Defendants is Geoffrey R. Chepiga, and he may be contacted by telephone at (212) 373-3000 and by email at gchepiga@paulweiss.com.
Media gallery
