Court of Chancery Applies Limitations Statute
Smith v. McGee, C.A. No. 2101-S (Del. Ch. October 16, 2006).
In this decision, the Court of Chancery discusses the application of Delaware's three year statute of limitations to claims for breach of fiduciary duty. The Court applied the statute to bar claims that arose three years before the suit was filed and declined to apply the potential saving rules such as when a claim is hidden from the plaintiff.