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State Courts -
Delaware - February 10 - February 12, 2009
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Am. Int'l Group, Inc. v. Greenberg, C.A. No. 769-VCS,
COURT OF CHANCERY OF DELAWARE, NEW CASTLE, February 10, 2009, Decided
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Overview: In an action alleging deceptive corporate transactions, motions to dismiss (Del. Ch. Ct. R. 12(b)(6)) by the CEO and his "inner circle" were dismissed, as these defendants were responsible for business units whose conduct was critical to the alleged misconduct. New York law applied to allegations against an auditor, immunizing it from suit.
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Miller v. Miller, C.A. No. 2140-VCN,
COURT OF CHANCERY OF DELAWARE, NEW CASTLE, February 10, 2009, Decided, February 10, 2009, EFiled
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Overview: Although a stockholder did not show that appointment of a custodian over a family-owned corporation was warranted under Del. Code Ann. tit. 8, § 226(a)(2) where the corporation was not suffering irreparable harm due to a division between the stockholder and his brother, appointment was granted under § 226(a)(1) to break certain deadlocks.
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