Posted on October 27, 2009 by Francis G.X. Pileggi

Chancery Court Discusses Fiduciary Duty of Director to Disclose Information While Negotiating Release with Corporation and Whether Lack of Disclosure Could Invalidate the Release

Xu v. Heckmann Corporation, No. 4673-CC (Del. Ch. October 26, 2009), read opinion here. The Chancellor of the Delaware Court of Chancery in this opinion decides a Motion to Dismiss Counterclaims involving issues related to fraud allegations against a director. The founder of a selling company, based in China,... Continue Reading...
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Posted on April 21, 2009 by Francis G.X. Pileggi

COURT GRANTS SUMMARY JUDGMENT ON CLAIMS ARISING OUT OF FAMILY OWNED BUSINESS DISPUTE

Stevanov v. O’Connor, No. 3820-VCP(Del. Ch., April 21, 2009), read opinion here. Kevin Brady, a highly respected Delaware litigator, provides us with the benefit of his summary of this Delaware Chancery Court decision as follows: Vice Chancellor Parsons granted in part and denied in part defendant - ex-husband’s motion for... Continue Reading...
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Posted on April 15, 2009 by Francis G.X. Pileggi

Chancery Court Dismisses Sundry Claims Against LLC Members

Kuroda v. SPJS Holdings, L.L.C., Del. Ch., No. 4030-CC (April 15, 2009), read opinion here. This case involves the following claims among members of an LLC, arising out of an LLC Agreement: (i) breach of contract; (ii) tortious interference with contract; (iii) tortious interference with prospective economic advantage; (iv) breach... Continue Reading...
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