Recently amended DGCL Section 102(b)(7) allows Delaware corporations to provide officers with exculpatory protections for personal monetary damages resulting from a breach of fiduciary duty in certain actions. While the protections are subject to limitations and not as broad as those provided for directors, the amendment addresses the historic disparate treatment of officers and directors in class action litigations.
Authors: Matthew D. Gases and Asim Grabowski-Shaikh, Baker Hostetler
This article was originally published on the website of Baker Hostetler on August 9, 2022.
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