The Delaware Court of Chancery has dismissed a shareholder lawsuit against the directors of BlackRock Inc., ruling that the plaintiff’s claims were derivative in nature and unable to support her allegations that the investment company’s board wasted corporate assets when it agreed to repurchase preferred shares in a sponsored fund when those shares became illiquid during the 2008 financial crisis.
Vice Chancellor Sam Glasscock III issued the decision on May 4 inProtas v. Cavanagh .
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