A recent Delaware Court of Chancery decision is noteworthy for its deep dive into the doctrinal underpinnings of the various aspects of fiduciary duties, as well as the difference between the standard of conduct and the standard of review. But my favorite part of the opinion is its discussion of the nuances of duty of
due care
Chancery Finds Breach of Fiduciary Duty But No Damages
By Francis Pileggi on
Posted in Court of Chancery Updates
In connection with analyzing claims that certain defendants aided and abetted breaches of the directors’ fiduciary duties, a recent Court of Chancery opinion provides an exemplary recitation of important fundamental principles of Delaware corporate law. The court’s decision in the case of In re PLX Technologies Inc. Stockholders Litigation, Cons. C.A. No. 9880-VCL (Del. Ch.…
Ryan v. Lyondell: Chancery Denies Interlocutory Appeal
By Francis Pileggi on
Posted in Court of Chancery Updates
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 means of a letter decision of the…