The Delaware Court of Chancery, in City of Warren General Employees’ Retirement System v. Talbott Roche, et al. [Blackhawk], C.A. No. 2019-0740-PAF, memo. op. (Del. Ch. Nov. 30, 2020), dismisses claims for fraud on the board under Mills Acquisition Co., et al. v. Macmillan, Inc., et al., Nos. 415, 416, 1988, opinion (Del. May 3, 1989), but not a duty of care claim for breach of the duty of disclosure in a proxy statement, in an action where plaintiff asserted claims only against a target company’s officers.
NEW: DealLawyers.com discusses the decision in Disclosure Claims: Another CEO Ends Up Holding the Bag.
$$$ Law360 discusses the decision in Chancery Cuts Most Claims In $3.5B Fintech Merger Suit.