August 2011

In K&K Screw Products, LLC v. Emerick Capital Investments, Inc., C.A. No. 5633-VCP (Del. Ch. August 9, 2011), read opinion here, the Court of Chancery addressed defendant’s motion to dismiss the complaint for lack of subject matter jurisdiction and plaintiff’s motion for summary judgment on its ten claims for declaratory judgment. The background facts

The U.S. Third Circuit Court of Appeals in City of Roseville Employees’ Retirement System v. Horizon Lines, Inc., et al., Case No. 10-2788, on August 24, 2011, in a 2-to-1 decision, read opinion here, affirmed the District Court’s granting of defendants’ motion to dismiss all claims against corporate defendants and five officers and

Steve Berstler of LexisNexis, in this latest update, interviews Francis G.X. Pileggi, Member-in-Charge, Eckert Seamans Cherin & Mellott, LLC, Wilmington, DE, who discusses two recent Delaware Supreme Court cases involving the waiver doctrine and the standard for a motion to dismiss. Two Delaware Chancery Court cases are also discussed, one involving the ethical implications of

Courtesy of Prof. Larry Ribstein in a post here, comes an article by Yaniv Grinstein and and Stefano Rossi entitled: Good Monitoring, Bad Monitoring. The article examines the impact on stock returns in light of the Delaware Supreme Court’s 1985 decision imposing liablity on directors in Van Gorkom, and the legislative response in DGCL

Central Mortgage Co. v. Morgan Stanley Mortgage Capital Holdings, LLC, No. 595-2010 (Del. Supr. Aug. 18, 2011), read Delaware Supreme Court’s en banc opinion here.

Issue Addressed

Whether Delaware should adopt the more stringent standard for motions to dismiss announced in the U.S. Supreme Court’s Twombly and Iqbal opinions.

Short Answer: No. (At