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
According to a new report by the Health Care Cost Institute, nearly three-quarters of 112 metropolit...
Read More >
Now that DOD has released the final version of the Cybersecurity Maturity Model Certification (CMMC)...
Read More >
On October 11, 2019, Pepper Hamilton will host an interactive seminar entitled “The Art of Internat...
Read More >
On January 13, 2020, the U.S. Department of Treasury published final regulations relating to the Com...
Read More >
On September 27, 2019, the U.S. District Court for the Northern District of Illinois granted a defen...
Read More >
The outbreak of the novel coronavirus disease 2019 (COVID-19) and the uncertainty surrounding its lo...
Read More >