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: New York Supreme Court Criminal Term LibraryDelaware Supreme Court Clarifies Doctrine of Stockholder Ratification
By David Badertscher, PLL
Source: Lexology, March 23, 2009.
Delaware - Delaware Supreme Court clarifies doctrine of stockholder ratification
Skadden Arps Slate Meagher & Flom LLP
"In Gantler, the Supreme Court reversed and remanded a Court of Chancery dismissal pursuant to Rule 12(b)(6) of a shareholder ?complaint alleg[ing] that the defendants, who are officers and directors? , violated their fiduciary duties by rejecting a valuable opportunity to sell the Company, [and] deciding instead to reclassify the Company?s shares to benefit themselves? .?
Full post as published by New York Supreme Court Criminal Term Library on March 23, 2009 (boomark / email).
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