Publication Date: 2021-10-27
Practice Area: Corporate Governance
Industry: Manufacturing
Court: U.S. District Court of Delaware
Judge: District Judge Noreika
Attorneys: For plaintiff: Andrew M. Carty, Brown Rudnick LLP, New York, NY; James W. Stoll, Brian M. Alosco, Brown Rudnick LLP, Boston, MA; Garvin McDaniel, Hogan McDaniel, Wilmington, DE for appellant.
for defendant: Robert A. Fumerton, Lisa Laukitis, William J. O’Brien, Skadden, Arps, Slate, Meagher & Flom LLP, New York, NY; Paul J. Lockwood, Jason M. Liberi, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; Chris Paparella, Nathaniel J. Kritzer, Steptoe & Johnson LLP, New York NY; John J. Byron, Steptoe & Johnson LLP, Chicago, IL; Jeremy W. Ryan, D. Ryan Slaugh, Potter Anderson & Corroon LLP, Wilmington, DE for appellees.
Case Number: D69586
In this adversary proceeding, the counterclaims filed by liquidation trustee against former directors and officers of debtor failed to state the necessary elements of breach of duty of care and loyalty because trustee did not plead gross negligence.