The Court of Chancery has ruled that monetary damages are not appropriate for disclosure violation claims when the merger central to the claims took place years before.
Chancellor William B. Chandler III wrote the June 19 opinion in the case In re Transkaryotic Therapies Inc., which was first filed in August 2005, shortly after TKT merged with the British company Shire Pharmaceuticals Group for $37 per share. About 52 percent of the stockholders approved the merger. TKT was a biopharmaceutical company incorporated in Delaware.
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