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Expert Analysis

M&A Advisers Face Increased Aiding And Abetting Risks

Law360, New York (April 29, 2015, 10:12 AM EDT) -- In Stewart v. Wilmington Trust (March 26, 2015), the Delaware Chancery Court characterized the outside auditor and the administrative management company for certain captive insurance companies as having a "gate-keeping role" for the companies. On that basis, the court refused to dismiss claims against them for aiding and abetting the alleged breaches of fiduciary duties of the companies' directors. The decision expands the Chancery Court's recent focus on the gatekeeper concept, underscoring the potential for aiding and abetting liability for advisers....

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