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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.

8 minute read December 01, 2025 at 12:03 AM
By
Kaan Ekiner and Mark E. Felger
Post-Bankruptcy Regulatory Compliance Claims Against Corporate Officers Stand after ‘Caremark’ Claim Challenge

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.

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