JACOBS, Circuit Judge:
Famed silver trader Norton Waltuch spent $2.2 million in unreimbursed legal fees to defend himself against numerous civil lawsuits and an enforcement proceeding brought by the Commodity Futures Trading Commission (CFTC). In this action under Delaware law, Waltuch seeks indemnification of his legal expenses from his former employer. The district court denied any indemnity, and Waltuch appeals.
As vice-president and chief metals trader...
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