Glasscock Allows European Hedge Fund's Breach of Contract Claim to Proceed

, Delaware Business Court Insider

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The Delaware Court of Chancery denied a Spanish-language television station operator's motion to dismiss a breach of contract claim in a lawsuit filed by an affiliate of European hedge fund Brevan Howard Asset Management. Vice Chancellor Sam Glasscock III ruled that the plaintiffs' lawsuit adequately pleaded that the television network failed to undertake appropriate actions to determine if it had the capital to repurchase its Series B preferred stock.

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