Del. High Court Aids Stock Owners In Escheat Suits

By Samuel Howard

Law360, New York (September 15, 2009, 7:50 PM ET) -- Clarifying key aspects of Delaware’s escheat law, the state’s high court had determined that A.W. Financial Services SA has grounds to sue parties responsible for turning stock it owned over to the state, filling the French investment firm’s quiver in its suit against Empire Resources Inc., the transfer agent and a subcontractor.

In an en banc proceeding the Delaware Supreme Court answered four questions certified by the U.S. District Court for the Southern District of New York, where AWF accuses Empire, the American Stock Transfer &...
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