Delaware Chancery Clarifies Duty Of Disclosure

Law360, New York (August 4, 2008, 12:00 AM EDT) -- The Delaware Chancery Court recently issued two opinions focusing on, among other things, the duty of disclosure in the context of merger transactions.

In In re Transkaryotic Therapies, Inc. (Del. Ch., Civil Action No. 2776-CC 6/16/08), Chancellor Chandler granted summary judgment in favor of the defendants for alleged breaches of the duty of disclosure in connection with a merger of two unrelated Delaware corporations.

In Berger v. Pubco Corp. (Del. Ch., Civil Action No. 3414-CC 5/30/08), Chancellor Chandler created a “quasi-appraisal” to remedy breaches of disclosure...
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