6 AmTrust Directors Kept In Class Suit Over $2.95B Merger
Law360 (February 26, 2020, 6:58 PM EST) -- Delaware's Chancery Court refused on Wednesday to dismiss class claims that six directors of property and casualty insurer AmTrust Financial Services Inc. breached their duty to investors when they agreed to take the company private for an allegedly underpriced $2.95 billion in June 2018.
The decision moved toward trial the latest round in multiyear litigation over AmTrust's decisions and the conduct of a group of AmTrust co-founder relatives who controlled more than half the company's common stock.
In the decision on Wednesday, Chancellor Andre G. Bouchard kept alive two of three counts alleging breaches of fiduciary duty by directors whose actions...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!