Opinion · Supreme Court of Delaware

Teachers'retirement System of Louisiana v. General Re Corp.

Teachers'retirement Sys. of La. v. Gen. Re Corp., 11 A.3d 228 (Del. 2010)

Type: Opinion
Court: Supreme Court of Delaware
Jurisdiction: Delaware
Date: 2010-12-29
Topic: commercial

How later courts describe this case

recognizing that, in a derivative action against the “human agents” of the corporation, there is “no suit by a co-conspirator, on the one hand, and its partner in crime on the other . . . because corporate agents (be they directors, officers, employees or outside contractors
if a plaintiff engaged in illegal acts because of duress or where an illegal contract is “intrinsically unequal,” the parties are not considered to be in truly equal fault and in pari delicto will not bar the plaintiff's action

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Cited by: 18 opinions

TEACHERS' RET. SYS. OF LA. v. GENERAL RE CORP.,11 A.3d 228(Del. 2010)

Teachers' Retirement System of Louisiana v. General RE Corp.

Nos. 451, 2009, 574, 2009.

Supreme Court of Delaware.

December 29, 2010.

Court Below: Court of Chancery of the State of Delaware, C.A. Nos. 753, 769.

BeforeSTEELE, Chief Justice, andHOLLAND,BERGER, JACOBS, AND RIDGELY, Justices, constituting the courten banc.

ORDER

MYRON T. STEELE, Chief Justice.

This 29th day of December 2010, upon consideration of the briefs of the parties, and their contentions in oral argument, it appears to the Court that the judgment of the Court of Chancery should be affirmed on the basis of and for the reasons set forth in its decision dated June 17, 2009.

NOW, THEREFORE, IT IS ORDERED that the judgment of the Court of Chancery isAFFIRMED.