The Delaware Court of Chancery has rejected as unfair a proposed settlement in an investor suit challenging the compensation of Goldman Sachs Inc.’s non-employee directors, the latest in a string of cases taking a tougher stance on disclosure settlements.

Vice Chancellor Sam Glasscock III on Tuesday ruled that additional disclosures about its executive-pay plan did not provide enough benefit to a Goldman investor, who had agreed to release direct and derivative claims against the investment bank’s directors.