The Delaware Court of Chancery, in Robert O. Carr v. Global Payments, Inc., et al., C.A. No. 2018-0565-SG, memo. op. (Del. Ch. Dec. 11, 2019), permitted modification of a prior advancement order, finding plaintiff still not entitled advancement because the amended claim did not pertain to his former service as an officer and director once allegations that he used confidential information gained during that service were removed. The Chancery Daily notes that a Oct. 31, 2018 decision in this matter, which originally addressed defendants’ motion to modify the advancement order, was withdrawn in connection with a motion for reargument. This Dec. 11, 2019 decision finally resolves defendants’ motion to modify.

NEW:  Morris James discusses the decision in Chancery Modifies Advancement Award, Finds Amended Claim Challenging Only Post-Separation Conduct No Longer Triggered Advancement Obligations.

Francis Pileggi discusses the decision in Advancement Denied for Post-Employment Activity.

Frank Reynolds discusses the decision in On second look, Chancery finds buyer’s revised charge avoids ex-CEO’s advancement claim.

Deallaywers.com discusses the decision in Buyer Dodges Advancement Claim From Former Seller Officer.