Advancement Under Section 145(k) Required
Brown v. LiveOps, Inc., download file . This Chancery Court case addressed the issue of whether a former officer was entitled to advancement under Section 145(k) of the DGCL. The specific issue was whether an underlying California action against a former officer asserted claims that were against the former officer “by reason of the fact” that he was an officer, director or employee of the Delaware corporation. The court concluded that the claims arose out of his former position and that mere “relabeling of those claims did not change the substantive, operative reality of those claims." Thus, the Motion to Dismiss the advancement claim was denied.
