The Delaware Court of Chancery, in Legent Group, LLC, et al. v. Axos Financial, Inc., et al., C.A. No. 2020-0405-KSJM, order (Del. Ch. Jan. 8, 2021), rejected defendants’ contention of plaintiffs’ claim of indemnification under the merger agreement to exercise jurisdiction because the claim was “purely legal” rather than equitable.

Shearman & Sterling discusses the decision in Delaware Court of Chancery Exercises Subject Matter Jurisdiction Appropriate Over Merger Agreement Dispute “Legal” Claim.