Chancery Confirms the Challenges in Pleading Caremark and Non-Shareholder Action Disclosure Claims
By EsqSocial Corporation 27/04/21
Fisher v. Sanborn, C.A. No. 2019-0631-AGB (Del. Ch. Mar. 30, 2021) - Under Court of Chancery Rule 23.1, a plaintiff attempting to bring a derivative action on behalf of a corporation faces a heightened “particularized” pleading standard. This pleading challenge is compounded when a plaintiff attempts to bring a Caremark failure of oversight claim – “possibly the most difficult theory in corporate law.”...
By: Morris James LLP