Rite Aid Corp. must pay the legal expenses of a former top lawyer stemming from the drugstore chain’s suit against the ex-executive for his role in a financial scandal at the company.
The Delaware Court of Chancery granted summary judgment in favor of Franklin Brown, Rite Aid’s former executive vice president, chief legal counsel and vice chairman of its board, in an indemnification suit he brought against the company after its state court case in Pennsylvania was dismissed. That civil suit focused on Brown’s alleged misdeeds in connection with an accounting scandal that led to a $1.6 billion accounting restatement in 1999.
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