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Litigation

: Delaware Business Litigation Report

Court of Chancery Upholds Proxy Power

By Morris James LLP

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In Re IAC/Interactivecorp, C.A. 3486-VCL (Del. Ch. March 28, 2008)

In this widely reported decision, the Court of Chancery applied well established principles of contract construction to determine when a proxy would be upheld. Once again, the Court rejected an attempt to modify the contract language to imply a duty of good faith and fair dealing, or a fiduciary duty that would override the rights given in the contract.

Full post as published by Delaware Business Litigation Report on December 31, 1969 (boomark / email).

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