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
Bricker & Eckler's construction attorneys are proud to present "Top Gun," our premier Midwest constr...
Read More >
California voters reject measure to expand rent control - Bullet SFGate – November 4 - Voters o...
Read More >
Brazil continues to streamline employer submissions of required employment data by integrating more ...
Read More >
We previously wrote about Riot Games’ $10,000,000 settlement of a class action lawsuit for alleged ...
Read More >
The second of three packages of proposed 2020 amendments to the German rules on control over foreign...
Read More >
Following a robust 2018, 2019 saw a modest slowdown in automotive M&A activity and a decline in deal...
Read More >