The Delaware Court of Chancery, in In re LendingClub Corp. Derivative Litigation, C.A. No. 12984-VCM, memo. op. (Del. Ch. Oct. 31, 2019), found plaintiffs failed to allege facts showing that board members who self-reported, investigated, and remediated wrongdoing faced a likelihood of liability under Caremark.
NEW: K&L Gates discusses the decision in Chancery Court Dismisses Derivative Action Alleging Caremark Claims.
Morris James discusses the decision in Chancery Addresses Pleading Standards for Caremark Claims.
Shearman & Sterling discusses the decision in Delaware Court of Chancery dismisses Caremark claims against directors after company publicly disclosed misconduct.
[$$$] Law360 discusses the decision in Investors’ Chancery Suit Can’t Show LendingClub’s ‘Bad Faith’.