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SIGA TECHNOLOGIES, INC. v. PHARMATHENE, INC.

No. 314, 2012.

67 A.3d 330 (2013)

SIGA TECHNOLOGIES, INC., Defendant Below, Appellant/Cross Appellee, v. PHARMATHENE, INC., Plaintiff Below, Appellee/Cross Appellant.

Supreme Court of Delaware.

Decided: May 24, 2013.

Attorney(s) appearing for the Case

Stephen P. Lamb (argued), Meghan M. Dougherty and Laura C. Bower , Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, Delaware; Andre G. Bouchard , Bouchard Margules & Friedlander, P.A., Wilmington, Delaware; Of Counsel: Walter Rieman and Jaren Elizabeth Janghorbani , Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, New York; Harold P. Weinberger , Jennifer L. Rochon , Seth F. Schinfeld , Kramer Levin Naftalis & Frankel LLP, New York, New York for appellant.

A. Richard Winchester and Christopher A. Selzer , McCarter & English, LLP, Wilmington, Delaware; Of Counsel: Roger R. Crane (argued), Gerald A. Novack , Philip W. Rodgers , Christopher Carton , and Molly Nixon-Graf , K & L Gates, LLP, New York, New York for appellee.

Before STEELE, Chief Justice, HOLLAND, BERGER, JACOBS and RIDGELY, Justices, constituting the Court en Banc.

STEELE, Chief Justice:

A Delaware corporation appeals from the Vice Chancellor's finding that it breached a contractual obligation to negotiate in good faith and is liable under the doctrine of promissory estoppel. We reaffirm that where parties agree to negotiate in good faith in accordance with a term sheet, that obligation to negotiate in good faith is enforceable. Where a trial judge makes a factual finding, supported...

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