Gilead Science Inc.'s efforts to recoup at least some of the legal fees it advanced to defend federal charges against the former CFO of its Immunomedics unit has exposed an unsettled question in Delaware law, the chief judge of the Delaware Chancery Court said Monday.
Usama Malik pleaded guilty to an insider trading charge in May 2023, but two other charges—securities fraud and securities fraud conspiracy—were dismissed as part of that plea agreement. The question is how to determine how much of the over $4 million that Gilead advanced for Malik’s defense should be allocated to the charges he successfully ...
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