Delaware Supreme Court on Costs in an Appraisal Proceeding

December 2020

Publication| Corporate Governance| Corporate Transactions| Mergers & Acquisitions| Special Committees & Investigations

In a recent decision, the Delaware Supreme Court held that an appraisal proceeding did not involve a violation of any law or rule and therefore did not constitute a “Securities Claim” giving rise to coverage for losses under the terms of a directors’ and officers’ insurance policy. It provided guidance regarding how the Delaware courts will construe insurance policies in connection with coverage disputes.

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