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
The U.S. Department of the Treasury has issued proposed regulations addressing how individual covera...
Read More >
CONVERGE19 is in its 4th year of bringing together the world’s leading companies for 2 days of dyna...
Read More >
Following the success of our three-part webinar series produced together with Houlihan Lokey in Spri...
Read More >
The Department of Labor (DOL) proposed a new rule to allow retirement plan disclosures to be posted ...
Read More >
While the seemingly endless wave of website accessibility cases filed by serial plaintiffs shows no ...
Read More >
McDermott Will & Emery’s Family Office Tax Roundtable provides participants with an interactive vir...
Read More >