For those readers who follow the many Chancery decisions highlighted on these pages regarding advancement for corporate officers and directors, the recent Court of Chancery decision in Nielsen v. EBTH Inc., C.A. No. 2019-0164-MTZ (Del. Ch. Sept. 30, 2019), can be added to the long line of cases that reject an argument that the requirement for advancement–that the underlying litigation was brought “by reason of the fact” of the claimant’s role as a director or officer–was not satisfied. As the court described it: “Few cases present facts that fall short of Delaware’s standard favoring advancement. This case follows the common pattern.”
An article co-authored by the undersigned, and Chauna Abner, provides a more complete overview of this case and appeared in The Delaware Business Court Insider.