Highlights & Analysis of Key Decisions from Delaware's Supreme Court & Court of Chancery
New Jersey Carpenters Pension Fund v. infoGROUP, Inc., C.A. No. 5334-VCN (Del. Ch. Sept. 30, 2011), read initial opinion here and revised opinion here
Issue Addressed
Whether directors breached their duty of loyalty in connection with the sale of a company based on their domination and/or intimidation by the largest shareholder.
Background
This case involved…
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…