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Drexel Burnham Lambert, Inc., 1992 WL 127567 (Del. Cencom Cable Income Partners II, Inc., L.P. The degree of control required to pierce the veil is “exclusive domination and control … to the point that no longer ha legal or independent significance of own.” See Wallace ex rel.
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Moreover, Delaware courts have noted that the alter ego theory only comes into play in piercing the corporate veil “when one seeks to hold liable an individual owner who controls the. The fraud or injustice that must be demonstrated in order to pierce the corporate veil must be found in the principal’s use of the corporate form. In order to state a claim for piercing the corporate veil under the “alter ego” theory, a party must show (1) that the corporation and its principals sought to be held liable operated as a single economic entity, and (2) that an overall element of injustice or unfairness is present. Delaware law permits a court to pierce the corporate veil of a company and hold its owners personally liable “where there is fraud or where is in fact a mere instrumentality or alter ego of its owner.” See, e.g., Geyer v.