A recent Delaware Court of Chancery opinion began by describing the complaint as reading like a law school exam designed to test the knowledge of a student regarding the requirements in the DGCL that must be satisfied in connection with a merger, and the court commented that the company would not have done well on
DGCL Section 144
Recent Decision Clarifies Safe Harbors in DGCL § 144 for Board Action
By Francis Pileggi on
Posted in Selected Articles by Francis
The following article appeared in the current issue of the Delaware Business Court Insider:
Recent Decision Clarifies Safe Harbors in DGCL § 144 for Board Action
By: Francis G.X. Pileggi* and Chauna A. Abner**
The recent Superior Court decision in Toedtman v. Turnpoint Medical Devices, Inc., C.A. No. N17C-08-210 RRC (Del. Super. Ct., Jan…
Proposed Class Action Settlement Rejected by Chancery Court
By Francis Pileggi on
Posted in Chancery Court Updates
In Off v. Ross, et al., (Del. Ch., Nov. 26, 2008), read opinion here, the Delaware Chancery Court rejected a proposed class action settlement (and related request for attorneys’ fees), in a derivative and putative class action that challenged the fiduciary duties of the Board of Trustees of a Delaware statutory trust. The…