Tue.Dec 13, 2022

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Delaware Court Of Chancery Dismisses Breach Of Fiduciary Duty Claims Against Special Committee Defendants For Failure To Plead Breach Of Loyalty

Shearman & Sterling

On November 30, 2022, Vice Chancellor Glasscock of the Delaware Court of Chancery granted a motion to dismiss claims asserted against directors who served as members of the special committee (the "Special Committee") of Isramco Inc. (the "Company") for failure to plead a breach of the duty of loyalty in connection with a take-private merger.

article thumbnail

Delaware Court Of Chancery Dismisses Breach Of Fiduciary Duty Claims Against Special Committee Defendants For Failure To Plead Breach Of Loyalty

Shearman & Sterling

On November 30, 2022, Vice Chancellor Glasscock of the Delaware Court of Chancery granted a motion to dismiss claims asserted against directors who served as members of the special committee (the "Special Committee") of Isramco Inc. (the "Company") for failure to plead a breach of the duty of loyalty in connection with a take-private merger.