Brian Scrivani

May 17, 2023 | lexology.com | André Bouchard |Jaren Janghorbani |Brian Scrivani |Michael F. Vogel |Frances Mi |Jason Tyler | +2 more

In New Enterprise Associates 14, L.P. v. Rich, the Delaware Court of Chancery, in an opinion by Vice Chancellor Laster, held that a contractual covenant by stockholders not to sue for breach of fiduciary duty in connection with a drag-along sale is enforceable under Delaware law if it is narrowly tailored and reasonable under the circumstances.