In a thorough 52-page report issued on March 6, 2026, Magistrate Wright of the Court of Chancery resolved cross-motions for summary judgment in Manche v. MVMT Labs, Inc., C.A. No. 2025-1407-CDW, granting advancement to a corporation’s co-founder who incurred legal fees in connection with a federal investigation into the corporation’s cryptocurrency activities. The
Chancery Orders Advancement Under Indemnification Agreements of Cancelled Company
In the decision OrbiMed Advisors LLC v. Symbiomix Therapeutics, LLC, et al., C.A. No. 2023-0769-MTZ, 2024 WL 747567 (Del. Ch. Feb. 23, 2024), the Delaware Court of Chancery considered an advancement dispute. The Court determined that the defendant was obligated to provide advancement under indemnification agreements between the plaintiffs and a company that defendant
Court of Chancery Rules on Advancement Claims Asserted by Directors of a Delaware Corporation
In a recent opinion issued by the Delaware Court of Chancery, Perryman v. Stimwave Technologies, Inc., C.A. No. 2020-0079-SG, the Vice Chancellor Glasscock ruled upon whether directors of a Delaware corporation were entitled to advancement under the corporation’s bylaws, pursuant to 8 Del. C. § 145(e). This opinion is an important read for