While I realize many people are waiting for the Delaware Supreme Court’s decision in the Walt Disney case, and I have no prediction when it will be released, I came across a blog post that suggests the Delaware Chancery Court refers with approval in its decision of last year to a law review article by Prof. Lyman Johnson–as did the parties in their appeal briefs. Of course the opinion refers to many law review articles and who knows how much weight should be given to one over the other. The article talked about the “good faith” aspect of the business judgment rule and, (according to the blog post which I am not commenting on as to its accuracy), argues that officers should not be given the same protection of the BJR as directors–though the outcome might suggest otherwise. Here is the link to the blog post and the underlying article:
LAW Information World Blog Archive School of Law Professor’s Scholarship at Center of Walt Disney Lawsuit