Corporate Governance

Delaware's Top Five Worst Shareholder Decisions for 2008 (A Recap)

By J. Robert Brown

#1     Wood v. Baum, 953 A.2d 136 (Del 2008):  Supreme Court encouragement of intemperate behavior towards shareholders.

#2     Portnoy v. Cryo-Cell Int'l, Inc., 940 A.2d 43 (Del. Ch. 2008):  Discouraging shareholders from vindicating their rights.

#3     In re Transkaryotic Therapies, Inc., 954 A.2d 346 (Del. Ch. 2008):  Exonerating false disclosure to shareholders.

#4     McPadden v. Sidhu, 2008 Del. Ch. LEXIS 123 (Del. Ch. June 17, 2008):  Rendering good faith a meaningless protection for shareholders.

#5     CA, Inc. v. AFSCME Emples. Pension Plan, 953 A.2d 227 (Del. 2008):  Marginalizing the ability of shareholders to elect their own nominees to the board of directors.

Full post as published by The Race to the Bottom on January 03, 2009 (boomark / email).