Posted on February 19, 2009 by Francis G.X. Pileggi

Chancery Court Allows Claims To Proceed Against Greenberg, Other AIG Directors

American International Group, Inc., Consolidated Derivative Litigation; AIG, Inc. v. Greenberg, et al., 2009 Del. Ch. LEXIS 15 (Feb. 10, 2009)("AIG I") 965 A.2d 763 (Del. Ch. 2009), read opinion here. This Chancery Court decision denied a Motion to Dismiss breach of fiduciary duty claims against former AIG Chairman Maurice... Continue Reading...
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Posted on January 28, 2009 by Francis G.X. Pileggi

Supreme Court Affirms Dismissal of Disclosure, Loyalty and Care Claims against Sumner Redstone In Viacom and Blockbuster Deal

Pfeffer v. Redstone, (Del. Supr., Jan. 23, 2009), read opinion here. We are fortunate to have a review of this recent Supreme Court decision by nationally-prominent Delaware lawyer Kevin Brady. The Delaware Supreme Court in this decision affirmed the Chancery Court's dismissal of claims pursuant to Rule 12(b)(6) against... Continue Reading...
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Posted on September 7, 2008 by Francis G.X. Pileggi

Chancery Court Dismisses Claims Against Board of Lear Corp. for Payment of Termination Fee to Bidder Led by Carl Icahn

In Re Lear Corp. Shareholder Litigation, 2008 WL 4053221 (Del. Ch., Sept. 2, 2008), read opinion here. This is the third Chancery Court decision in about as many (business) days that addresses the issue of whether: claims against a board of directors will be dismissed based on the exculpation clause... Continue Reading...
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Posted on September 2, 2008 by Francis G.X. Pileggi

Ryan v. Lyondell: Chancery Denies Interlocutory Appeal

Ryan v. Lyondell is a major Chancery Court decision issued about a month ago that has generated a substantial amount of commentary by experts and practitioners alike. A summary of the case and commentary by Professors Ribstein and Bainbridge are compiled here. The newest development in this case came by... Continue Reading...
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