Reported about 14 hours ago
The Delaware Supreme Court overturned a previous order requiring Canada's TC Energy to pay $199.2 million in damages related to its $13 billion acquisition of Columbia Pipeline Group in 2016. This ruling followed claims by Columbia shareholders that TC Energy should be held liable for reducing the takeover price, which allowed former executives to receive large severance packages. The Court determined that TC Energy lacked actual knowledge of any breach of fiduciary duty, leading to the dismissal of the damages claim.
Source: YAHOO