Courtesy of Frank Reynolds of Thomson Reuters, we have highlights of the American Conference Institute’s two-day D&O Liability Insurance conference, that addresses recent developments in corporate litigation, including Delaware court decisions, that have an impact on the insurance industry. An excerpt from Frank’s article, hyperlinked above, should be of interest:
Corporate and insurance law specialists have long paid close attention to litigation and legislative developments in Delaware, where two-thirds of the nation’s Fortune 500 companies are incorporated and most shareholder legal battles are fought.
A recent Delaware Chancery Court ruling held Dole Foods CEO David Murdock and his general counsel personally liable for $148 million for conspiring to cheat the shareholders in a buyout — even though the company’s directors followed the rules for negotiating a fair deal. In re Dole Food Co. Stockholder Litig.; In re Appraisal of Dole Food Co., Nos. 8703 and 9079, 2015 WL 5052214 (Del. Ch. Aug. 27, 2015).