The Delaware Chancery Court has dismissed claims for breaches of fiduciary duty against a couple accused of undermining the operations of Cambridge Therapeutic Technologies in order to force a buy-out of the $12.5 million investment they made in the New Jersey-based pharmaceutical distribution company back in 2016.
Vice Chancellor Kathaleen S. McCormick ruled Wednesday on a motion to dismiss that investors Robert and Monica Breslow were largely unsuccessful in an alleged effort to seize control of the firm through a board designee, and thus owed no duties CTT, a Delaware limited liability company.
