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Court Of Chancery Holds Directors Subject to Contribution Claims

Posted In Directors

Hampshire Group Limited v. Kuttner, C.A. 3607-VCS (July 12, 2010)

This decision holds that the Unifrom Contribution Among Joint Tortfeasors Act applies to claims against directors. While at least 1 other court agreed with this point, this is the first Delaware decision on this issue.

This is important becaue it has serious implications to settlements with some but not all directors in derivative and class claims and as it may give leverage to former directors who are now on the outs.

Tags: Directors
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