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
California Court of Appeal Decision in School District Case Applies to Public Agencies - Even compl...
Read More >
Last week, in Velox Express, Inc., the National Labor Relations Board (NLRB) answered what had been ...
Read More >
In a separate post, we discussed several cases decided by the National Labor Relations Board (NLRB) ...
Read More >
On March 15, 2020, the long-awaited Paid Sick Days Act of the City of Pittsburgh (the Act) will go i...
Read More >
According to a complaint filed by the Department of Justice, several funds affiliated with Third Poi...
Read More >
It’s hard to keep up with the news these days. It sometimes feels like you can’t step away from yo...
Read More >