Delaware Corporate Law Update

Defense Bar vs. Fantasies, __ A.3d __, 2024 WL 99999 (Del. 2024)

Delaware Supreme Court holds that Delaware’s “reasonable conceivability” standard for evaluating a motion to dismiss under Rule 12(b)(6) is equivalent to the federal “plausibility” standard.

Huge vs. Ramifications, 2024 WL 88888 (Del. Ch. 2024)

Court of Chancery issues first ever post-trial decision on whether directors violated their Caremark duties of oversight.  Court found that record did not show directors intentionally disregarded red flags indicative of corporate wrongdoing, nor intentionally failed to establish monitoring system for “mission critical” risk.