TC Energy Corp., formerly TransCanada Corp., is planning to appeal a ruling by a Delaware court in which it was held liable for aiding and abetting breaches of fiduciary duty by two previous top executives of Columbia Pipeline Group Inc., which it acquired in 2016. 

The 196-page post-trial opinion was filed last Friday (June 30) by the Court of Chancery in the State of Delaware. The court has preliminarily awarded former Columbia shareholders economic damages of $1.00/share and disclosure damages of 50 cents/share. 

The award would apply to about 400 million Columbia shares that were outstanding at the time of the acquisition (No. 2018-0484-JTL). Lead plaintiffs in the lawsuit, filed in July 2018, are the Police & Fire Retirement System of the City of Detroit and the Public...