Red Oak Fund, L.P. v. Digirad Corporation, C.A. No. 8550-VCN (Del. Ch. Oct. 23, 2013).
This 45-page post-trial opinion rejects the challenges to a contested election to replace the board of directors of Digirad. The claims were that the directors breached their fiduciary duties and asked that the election be held invalid based on an unfair proxy contest. The Court found that there were no breaches of fiduciary duties or other conduct that created an unfair election process. The allegations included touting to certain stockholders the preliminary results of the election favoring management and delaying the release of purportedly negative financial results.