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
Source Url: https://www.jdsupra.com/legalnews/chancery-rules-failure-to-disclose-65873/
Related
Beginning January 1, 2020, Washington employers in industries including hospitality, retail, securit...
Read More >
Chain reaction accidents present challenging questions of liability, and proving your right to compe...
Read More >
For nearly 25 years, courts in the Ninth Circuit have consistently refused to sanction nonconsensual...
Read More >
The year-end federal spending bill, the Further Consolidated Appropriations Act, 2020 (“FCAA”), wa...
Read More >
Data Privacy & Security- FTC Staff Comments on NIST’s Proposed Privacy Framework- Federal Trade C...
Read More >
In Fischer v. Sentry Ins. A Mutual Co., an employee kept a log of when she felt sexually harassed or...
Read More >