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
The National Labor Relations Board (NLRB) has ruled an employee’s effort to decertify his union cou...
Read More >
On Nov. 14, 2019, the office of the National Labor Relations Board’s (NLRB) General Counsel release...
Read More >
In today’s edition of Daily Compliance News: • Models from the Past in Roman Culture by Matthew Ro...
Read More >
When the news broke Friday afternoon that Labor Secretary Alexander Acosta would be resigning from h...
Read More >
As the coronavirus (COVID-19) spreads to countries around the world, employers are developing polici...
Read More >
Recent press has explored how corporate transactions have evolved in the months of the pandemic. At ...
Read More >