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STIFEL FINANCIAL CORP. v. COCHRAN

Nos. 548, 2001, 549, 2001.

809 A.2d 555 (2002)

STIFEL FINANCIAL CORPORATION, Defendant Below, Appellant-Cross Appellee, v. Robert M. COCHRAN, Plaintiff Below, Appellee-Cross Appellant.

Supreme Court of Delaware.

Decided: June 13, 2002.

Attorney(s) appearing for the Case

Edward P. Welch, Skadden, Arps, Slate, Meagher & Flom, LLP, Wilmington, Delaware, Dennis M. Kelleher, (argued), Kara E. Fay, Skadden, Arps, Slate, Meagher & Flom, LLP, Boston, Massachusetts, for appellant-cross appellee, Stifel Financial Corporation.

Thomas P. McGonigle, Duane Morris, LLP, Wilmington, Delaware, Matthew A. Taylor, (argued), Duane Morris, LLP, Philadelphia, Pennsylvania, Robert J. Valihura, Jr., Robert J. Valihura, Jr., P.A., Wilmington, Delaware, for appellee-cross appellant, Robert M. Cochran.

BEFORE: WALSH, HOLLAND, and STEELE, Justices.

WALSH, J.

In this appeal from the Court of Chancery, we once again address the scope of officer/director indemnification under Delaware law. The Court of Chancery ruled that the claim of a former corporate officer, who was also a director, for indemnification was not time barred and extended to the cost and expense of defending himself in criminal proceedings, but that the officer was not entitled to be indemnified for the...

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