Delaware Business Litigation Report

Supreme Court Limits Laches Defense

Levey v. Brownstone Asset Management L.P., No. 551, 2012 (August 27, 2013)

When does laches apply to a claim filed in the Court of Chancery?  Generally that Court follows the statute of limitations that would have applied in the law court, the Delaware Superior Court.  However, the time to file suit may be extended in "unusual conditions or extraordinary circumstances," under IAC/InterActive Corp. v. O'Brien, 26 A.3d 174 (Del. 2011). This decision explains when those circumstances exist.

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