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  • Writer's pictureKirk Hartley

After Trial, a Delaware Chancery Judge Imposes Aiding & Abetting Liability

Aiding and abetting liability continues to prove fertile ground for plaintiffs. Last week, after trial, Delaware Chancery Judge Lasker issued a ruling finding that RBC aided and abetted corporate officers in their breach of their duty of care for decision-making regarding a corporate sale. The ruling arose in part because the judge found a conflict of interest in RBC trying to work both sides of the street in a deal. Specifically, RBC sought to advise the target company, and to obtain potential financing business. of note, the opinion holds that aiding and abetting liability could be imposed even though the board members were immune from liability under the entity’s governing documents.

The Wall Street Journal has the story in general. Alison Frankel’s blog at Reuters provides her usual fine insights with specifics and a link to the opinion.

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