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Delaware Supreme Court Addresses Appropriate Remedy for Breach of Fiduciary Duty

Lingo v. Lingo, No. 713, 2009 (Del. Supr., June 10, 2010), read opinion here. The factual background of this Delaware Supreme Court decision involves a faithless fiduciary who abused the Power of Attorney given to her, but the part of the opinion that will be of interest for readers of this blog...

Delaware Supreme Court Hears Argument on Airgas' Appeal Regarding Bylaw Amendment and Stockholders' Meeting

On November 3, 2010, in Airgas, Inc. v. Air Products and Chemicals Inc., No. 649,2010, the Delaware Supreme Court held oral argument in the expedited appeal by Airgas of the Court of Chancery's October 8, 2010 decision. (A summary of that Chancery decision, as well as posts on prior Chancery...

Airgas: Potato, Potahto

The Deal Prof has a run-down on the Airgas decision . He has it about right: The signal this reversal sends is that it basically says don't worry about the language of your contracts so long as everybody "knows" what it means. Potato, potahto, tomato, tomahto. Let's call...

Chancellor Chandler and Airgas...

I don't know, but I think Chancellor Chandler isn't all that impressed with the Supreme Court reversing his decision in the Airgas case. He sent a letter to the parties yesterday ( Letter here ) with a number of questions seeking supplemental information relevant to the next part of the case...

The Delaware Supreme Court and Certified Questions

Justice Henry duPont Ridgely of the Delaware Supreme Court has published an essay on the procedure that courts around the country may follow to present issues of Delaware law to Delaware's High Court. The essay was based on His Honor's remarks at Southern Methodist University's Corporate...

Supreme Court Affirms Chancery in Vulcan/Martin Marietta Hostile Contest

Posted by Francis Pileggi Vulcan Materials, Inc. v. Martin Marietta Materials, Inc. This is a Delaware Supreme Court ruling from the bench on May 31, 2012 involving the penalty imposed on a hostile bidder for breach of a confidentiality agreement entered into during amicable negotiations. We previously...