Chancery Bars Claims Based on Section 102(b)(7) Exculpation Clause
In McPadden v. Sidhu, (Del. Ch., Aug. 29, 2008), read opinion here, the Delaware Chancery Court found that demand was excused under Chancery Court Rule 23.1 but barred claims--by granting a motion to dismiss under Rule 12(b)(6), against the directors despite their apparent apparent violation of their duty of...
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