Del. Caremark Opinion Shows Shift In Deference To Boards
Law360 (July 23, 2020, 5:03 PM EDT) -- In late April, a third Delaware Chancery Court judge permitted a derivative action asserting a Caremark oversight claim against corporate directors to proceed since the Delaware Supreme Court's decision in Marchand v. Barnhill 10 months ago.
In Hughes v. Hu, the court denied a motion to dismiss where there was no significant public interest at stake and the company had ostensibly adopted a monitoring system, but the board had allegedly failed to provide meaningful oversight.
Because motions to dismiss Caremark claims were previously routinely granted, interest has been generated over whether Marchand represents a change in the law, a change in...
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