Delaware Supreme Court Reaffirms Protection of Arm's-Length Bargaining

Harvard Law School Forum on Corporate Governance

Arthur R. Bookout Joseph O. Larkin Edward B. Micheletti

On June 17, 2025, the Delaware Supreme Court reversed a post-trial finding of aiding and abetting liability against a third-party arm’s-length buyer. Partners Arthur Bookout, Joseph Larkin and Edward Micheletti discuss how, in doing so, the court provided guidance on the legal standards necessary to hold a buyer liable.

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