17Sep
Chancery Rules Failure to Disclose “Intrinsic Value” Precludes Corwin Defense – But Does Not Necessarily Suggest a Breach of the Duty of Loyalty
In In re USG Corp. S’holder Litig., 2020 WL 5126671 (Del. Ch. Aug. 31, 2020), the Court of Chancery granted the director-defendants’ motions to dismiss post-closing money damages claims arising out of the sale of USG Corporation (“USG”) for less than what USG’s directors allegedly thought was its intrinsic value. Although the failure to disclose such “intrinsic value” prevented dismissal under Corwin v. KKR Financial Holdings, LLC, 125 A.3d 304 (Del. 2015), Vice Chancellor Sam Glasscock III held...
By:
Morris James LLP
Related
Starting tomorrow, October 1, 2019, Connecticut will increase the minimum wage and implement extensi...
Read More >
Imagine an anonymous worker at a multinational’s Egypt factory contacts the global whistleblower ho...
Read More >
In certain situations, cooperative purchasing programs can provide an efficient, cost-effective proc...
Read More >
In 2018, this author blogged about how religious entities can navigate the potential traps when they...
Read More >
In 1832, South Carolina adopted common-law marriage by way of a court decision, holding the union wa...
Read More >
On Thursday, September 12th, the California State Assembly passed Assembly Bill 5 (“AB 5”), the co...
Read More >