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Summaries and analysis of recent Delaware court decisions concerning business-related litigation.
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Court Of Chancery Upholds No Trading Rule
Posted In Class Actions
Steinhardt v. Howard-Anderson, C.A. 58787-VCL (January 6, 2012)
A class representative may not trade in the stock held by his class members based on information he learns in the litigation. That is the usual rule reflected in the typical confidentiality order entered in such cases in Delaware. This decision collects several other unreported decisions following that rule and shows how to calculate the trading profits that must be returned to the class when the rule is violated.
Tags: Class Actions
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