For Your Data Malpiede V. Townson Illustration Brief

Malpiede v. Townson illustration brief summary
780 A.2d 1075 (2001)

CASE SYNOPSIS

On appeal from the Court of Chancery inwards too for New Castle County (Delaware), the supreme courtroom considered the lower court's ruling that allegations inwards a shape activeness electrical load challenging a merger did non back upwards plaintiff shareholders' claims.

CASE FACTS
The shareholders' claims alleged: (1) breaches of accused target corporation's board members' duty of loyalty or their disclosure duties; too (2) aiding too abetting or tortious interference yesteryear accused acquiring corporation.

DISCUSSION

The supreme courtroom ruled that:
(1) the amended electrical load did non adequately allege a breach of the board members' duty of loyalty or their disclosure duty;
(2) the exculpatory provision inwards the charter of the target corporation authorized by Del. Code Ann. championship 8, § 102(b)(7) operated to bar claims for coin damages against the board members caused yesteryear the alleged breach of their duty of care; and
(3) the amended electrical load did non render adequate back upwards for the shareholders' claims against the acquiring corporation for aiding too abetting a breach of fiduciary duty yesteryear the target corporation's board members or for tortious interference alongside a prospective concern opportunity.

CONCLUSION
The sentence was affirmed.

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