The Delaware Chancery Court has rejected an application for interlocutory appeal by the investment adviser and directors of the Fiduciary/Claymore Energy Infrastructure Fund (FMO) in connection with the Court’s prior ruling denying their motion to dismiss. The Court held that the “application does not argue that the ruling misconstrued the record. Nor does the application accuse the ruling of applying the incorrect standard. And the application does not identify a case that examined the same or similarly unusual facts. Nevertheless, the application contends that the ruling resolved a novel question of law and conflicts with precedent,” which the Court rejected and denied the application. The case will now proceed to discovery.
Morris Kandinov LLP represents the plaintiff, a former investor in FMO.
For more information, contact Leo Kanidnov at firstname.lastname@example.org.