Wilmington Trust Gets Partial Win in Suit Against Valuation Firm

Wilmington Trust NA got mixed results in its lawsuit seeking to force valuation advisory firm Stout Risius Ross to cover part of a $29.8 million judgment entered against Wilmington for its role in an employer stock transaction. A Manhattan federal judge dismissed some claims as untimely but allowed the case to proceed.

Wilmington’s breach of contract and negligence claims against Stout Risius—which provided the valuation report that Wilmington relied on in authorizing the disputed transaction—are barred by Delaware’s three-year limitations period, Judge Louis L. Stanton of the U.S. District Court for the Southern District of New York held Tuesday.

Wilmington, ...