Ryan redux

VC Noble offers a sort of defense of his Ryan v. Lyondell opinion (which I discussed here and here) in denying defendants' interlocutory appeal. Francis Pileggi usefully summarizes the most recent opinion.

The bottom line is that the Vice Chancellor suggests that the effect of the exoneration available under Delaware 102(b)(7) will be better understood after the facts are fully developed at trial. But the problem remains that a trial will be necessary despite allegations that verge on a mere due care violation.  This, in itself, is problematic for defendants who may have expected more protection from liability for mere, even if serious, misjudgments.