In Giuliano v. Grenfell-Gardner, 2025 WL 2502176 (Del. Ch. Sept. 2, 2025), Caremark claims were filed against former directors and officers of Teligent, Inc., a generic pharmaceutical company. The claims were brought by the plan administrator appointed by the Bankruptcy Court under Teligent’s plan of reorganization.
Post-Bankruptcy Regulatory Compliance Claims Against Corporate Officers Stand after ‘Caremark’ Claim Challenge
Although alleged oversight claims are not uncommon, this case was unusual because the claims were not asserted derivatively by shareholders. Given the informational advantage enjoyed by the plan administrator, it was not surprising that the court found the complaint adequately pleaded Caremark claims against the named director defendants and two of the company’s officers.
By
Kaan Ekiner and Mark E. Felger
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