The Delaware Supreme Court last week affirmed the result but disavowed the reasoning of the Court of Chancery’s dismissal of a $50 million claim by OptimisCorp’s chief executive in a fiduciary duties suit, saying a judge’s analysis of the plaintiff’s argument clouded an issue of growing importance in state courts.
Alan Morelli, CEO of the California health care company, had appealed an August 2015 opinion by former Vice Chancellor Donald F. Parsons Jr. blocking his damages claims against dissident directors, related to his unexpected ouster during a 2012 board meeting.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
