Delaware Court Decides Damages in Breach of Fiduciary Duty Aiding and Abetting Case | White & Case LLP International Law Firm, Global Law Practice
Delaware Court Decides Damages in Breach of Fiduciary Duty Aiding and Abetting Case

Delaware Court Decides Damages in Breach of Fiduciary Duty Aiding and Abetting Case

In March 2014, Vice Chancellor Laster of the Court of Chancery of the State of Delaware issued an opinion finding Rural/Metro Corporation's lead financial advisor liable for aiding and abetting breaches of fiduciary duty by Rural's board of directors in connection with Rural's 2011 sale to an affiliate of Warburg Pincus LLC (the "Liability Opinion"). Vice Chancellor Laster has now set such financial advisor's liability to Rural's former stockholders at approximately US$75.8 million (In re Rural/Metro Corporation Stockholders Litigation, C.A. No. 6350-VCL (Del. Ch. Oct 10, 2014)). According to the Court, this amount represents 83% of the total damages that former Rural stockholders suffered.

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