We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Another Strong Statement Regarding Director Liability

Law360 (November 5, 2008, 12:00 AM EST) -- The Delaware Courts have made another strong statement this year in regards to potential director liability.

While earlier this year, Delaware took a stance regarding advancement of indemnification for former directors in Schoon v. Troy, the Chancery Court recently denied summary judgment to a group of independent directors due to a limited record of the board’s process in evaluating an acquisition offer.

In doing so, the Court found that independent directors, acting without conflict, could potentially be personally liable for approving a premium cash offer, with...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.