January 2009

In Gantler v. Stephens, (Del. Supr., Jan. 27, 2009), read opinion here, the Delaware Supreme Court, yesterday,  issued a major decision on important matters of Delaware corporate law. Delaware’s High Court  for the first time confirmed and clarified that officers of Delaware corporations have the same fiduciary duties as directors of Delaware corporations.

In addition

 Pfeffer v. Redstone, (Del. Supr., Jan. 23, 2009), read opinion here. We are fortunate to have a review of this recent Supreme Court decision by nationally-prominent Delaware lawyer Kevin Brady.

The Delaware Supreme Court in this decision affirmed the Chancery Court’s dismissal of claims pursuant to Rule 12(b)(6) against Sumner Redstone and others, in connection with a transaction

In Fisk Ventures LLC v. Segal, (Del. Ch., Jan. 13, 2009), read opinion here, (hat tip: Delaware Business Litigation Report), the Delaware Chancery Court dissolved an LLC based on the standard in Section 18-802 of the Delaware LLC Act, that it was not  "reasonably practicable" to carry on the business of the LLC…. Among other reasons, this

Professor Larry Ribstein, one of nation’s foremost experts on LLCs and other alternative entities, has written extensively on the "legal aspects of large law firms". Here is a post he penned today that refers to today’s front page story in The Wall Street Journal about some very large and very old law firms that have recently dissolved.

In Mitchell v. Reynolds, (Del. Ch., Jan. 7, 2009), read opinion here, the Delaware Chancery Court explains in a 40-page decision the contours and the factually subtle aspects of the analysis employed to determine the existence of a fiduciary relationship, as well as the legal aspects of the duties and rights of both trust