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To embed, copy and paste the code into your website or blog: A recent decision in the Delaware Chancery Court broadens the risk of inter-corporate liability by endorsing the theory of “reverse” veil-piercing, where a plaintiff can reach down to the assets of a parent company’s subsidiaries. 1 Although many plaintiffs in the past have pursued theories predicated on reverse veil-piercing, the decision from Vice Chancellor Slights is the first time the theory has been formally endorsed by a Delaware court. The Manichean case arose in the context of an appraisal proceeding, where stockholders of a company that intends to merge with another company can either elect to participate in the merger or dissent and seek statutory appraisal of their shares. When the board of SourceHOV Holdings, Inc., a business outsourcing company, presented stockholders with a proposed merger with Exela Technologies, Inc., some stockholders dissented and sought statutory appraisal. After a lengthy app

United statesExela tech incExela technologies incSourcehov holdings incExela techs incManichean capDelaware chancery courtVice chancellor slightsExela technologiesஒன்றுபட்டது மாநிலங்களில்டெலாவேர் சான்சரி நீதிமன்றம்