Del. Chancery Rejects Genworth Investors' Discovery Bid
By Rick Archer (July 28, 2017, 6:16 PM EDT) -- A Delaware Chancery Court judge on Thursday denied a pair of Genworth Financial Inc. investors access to certain documents possessed by the to-be-sold mortgage insurer because they concern an action the investors filed themselves.
Richard L. Salberg and David Pinkoski had argued that Genworth could not use attorney-client privilege to hide information about whether a separate, pending fiduciary-duty derivative action affected negotiations for the company's proposed sale. But Vice Chancellor Joseph R. Slights III said in his opinion Thursday that the fact Salberg and Pinkoski were the plaintiffs in the action gave Genworth sufficient reason to invoke privilege.
"The company's board...
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