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Delaware Court of Chancery Decision Protects Directors from Liability, But Increases Litigation Risk to Corporate Officers
The recent Delaware Court of Chancery decision in Morrison v. Berry illustrates the protections provided to directors in connection with strategic transactions and related public filings and the corresponding risks facing corporate officers in those same transactions. The decision is the latest in the Fresh Market litigation, which saw Vice Chancellor Glasscock’s initial decision dismissing the litigation on Corwin grounds reversed by the Delaware Supreme Court last year.