Levey v. Brownstone Asset Management, LP, No. 5512012 (Del. Aug. 27, 2013).

This Delaware Supreme Court decision is noteworthy because it is a rare example of the Court raising on its own an issue that was neither raised by the parties or in the trial court, nor raised on appeal and, therefore, would otherwise be waived and not considered by the Court pursuant to Supreme Court Rule 8.

After discussing the concept of laches, equitable tolling, and the Delaware Savings Statute (see footnote 32), the Court at pages 20 and 21 of the slip opinion decided that it would consider, “in the interest of justice” the “unusual conditions or extraordinary circumstances”, that can justify not applying the statute of limitations by analogy when determining whether a plaintiffs’ delay in filing suit is unreasonable.  See footnotes 25 and 36.  Thus, it remanded the case to the Court of Chancery for further consideration in light of this opinion.