Chancery Ignored Precedent By Axing Suit, Del. Justices Told

Law360 (October 14, 2020, 7:14 PM EDT) -- An attorney for Esperion Therapeutics Inc. stockholders told Delaware's Supreme Court on Wednesday that a vice chancellor "completely ignored" a contrary federal precedent in tossing a Chancery Court suit earlier this year accusing the biopharmaceutical company of misleading investors in 2015.

Stephen J. Oddo of Robbins LLP, counsel to a proposed class of Esperion investors, argued that a Sixth Circuit decision in 2018 revived a similar direct federal securities action in Michigan focused on accounts and allegations involving the same events highlighted in the Delaware case.

Vice Chancellor Joseph R. Slights III's dismissal was largely silent on the Sixth Circuit finding,...

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!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!