Delaware Law Amended to Protect Directors and Officers Against Elimination of Indemnification Rights

17 April 2009
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This client update discusses recent amendments to Delaware law, including one providing that directors' and officers' rights to indemnification may not be eliminated after the occurrence of the act or omission giving rise to a claim in respect of which indemnification is sought.  This amendment reverses the outcome in Schoon et al. v. Troy Corporation, about which we wrote in our client update of May 19, 2008.