EBS LITIG. LLC v. BARCLAYS GLOBAL INV., N.A., 01-1864
The statute of limitations in a third party complaint for breach of fiduciary duty and securities violations, in connection with a stock dividend, was tolled when defendants actively concealed 1) the true financial condition of the company until a bankruptcy filing, and 2) that stock distribution may have contributed to insolvency.
- Decided 09/18/2002
- Published 09/18/2002
- FULLAM, District Judge., Before SCIRICA and GREENBERG, Circuit Judges, and FULLAM, District Judge.
- United States Third Circuit
- For Appellant:
- Edward M. McNally (argued), Michael J. Maimone, James E. Drnec, Morris, James, Hitchens & Williams LLP, Wilmington, for the Appellants.
- For Appellees:
- A. Gilchrist Sparks, III (argued), R. Judson Scaggs, Jr., Megan E. Ward, Morris, Nichol, Arsht & Tunnell, Wilmington, for Edison Director Third-Party Defendants Below, Appellees., Philip Trainer, Jr., Ashby & Geddes, Wilmington, James P. Reid (argued), Stacy R. Obenhaus, Gardere Wynne Sewell LLP, Dallas, for D & B Defendants Appellees., Daniel J. DeFranceschi, Richards, Layton & Finger, Wilmington, Richard A. Chesley, Houlihan Lokey Howard & Zukin, Chicago, for EBS Litigation LLC Appellee.