Opinion · Supreme Court of Delaware

Trenwick America Litigation Trust v. Billett

931 A.2d 438

Type
Opinion
Court
Supreme Court of Delaware
Jurisdiction
Delaware
Date
2007-08-14
Topic
litigation

finding that “statements of expectation or opinion about the future of the company and the hoped for results of business strategies . . . are generally not actionable under Delaware law” | noting that the relevant factors include “the time, place, and contents of the false representations; the facts misrepresented; the identity of the person(s) making the misrepresentation; and what that person(s) gained from making the misrepresentation” | affirming Trenwick Am. Litig. Trust v. Ernst & Young, L.L.P., 906 A.2d 168 (Del. Ch. 2006) | "Wholly-owned subsidiary corporations are expected to operate for the benefit of their parent corporations; that is why they are created. Parent corporations do not owe such subsidiaries fiduciary duties."

Citator

Cited by
34 opinions
931 A.2d 438 (2007)

TRENWICK AMERICA LITIGATION TRUST
v.
BILLETT.

No. 495, 2006.

The Delaware Supreme Court.

August 14, 2007.

Decision without published opinion. AFFIRMED.