December 3, 2015

First Appeal Filed Relying on Rural/Metro-Type of Legal Analysis

The Delaware Chancery Daily reports that the plaintiff’s in Zale have appealed the Court Chancery’s dismissal (on reconsideration following the Delaware Supreme Court’s opinion in Corwin v KKR) of their aiding and abetting breach of fiduciary duty claims against a financial advisor in In re Zale. The outcome of this appeal will test how broadly or narrowly the Delaware Supreme Court’s opinions in Corwin and Rural/Metro should be read and will have significant implications for pending and future aiding & abetting claims against financial advisors…

We’re posting memos on the Delaware Supreme Court’s Rural/Metro decision in our “Financial Advisors” Practice Area