Delaware Supreme Court Confirms that Corwin Rule Applies to Aiding and Abetting Claim
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On May 6, the Delaware Supreme Court issued a decision in Singh v. Attenborough that reinforces the application of the business judgment rule to claims for breach of fiduciary duty when fully-informed, disinterested stockholders approve an M&A transaction. Additionally, the decision confirms the high scienter requirement for aiding and abetting claims brought against financial advisors to M&A transactions.
In this alert, we review the Court’s decision and outline key takeaways.
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