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Summaries and analysis of recent Delaware court decisions concerning business-related litigation.
Morris James Blogs
Court Of Chancery Awards $1.263 Billion In Damages
This is the largest monetary award in the history of the Court of Chancery, $1.263 Billion plus interest. Indeed, except for 1 other case decided outside of Delaware, it may be the largest breach of fiduciary duty case anywhere else. It certainly should end the claim that the Delaware courts always favor management.
The decision is particularly instructive about how a special negotiating committee should conduct or not conduct itself. For that reason alone it is required reading for anyone who cares about such things.