DuPont Co.’s directors told the Delaware Supreme Court in a brief unsealed late Tuesday that the Chancery Court was correct to toss derivative claims related to the chemical company’s billion-dollar soybean antitrust and intellectual property fight with Monsanto Co., refuting the contention the court applied the wrong standards.
In their reply brief to the appeal of Vice Chancellor Sam Glasscock III’s decision that the chemical company didn’t breach its fiduciary duties by refusing the suing shareholder’s litigation demand to pursue wrongdoing claims over alleged breaches that led to a bitter federal court fight with Monsanto, DuPont brass argued that the court was correct when it found the plaintiff hadn’t raised doubts over the board’s good faith.