Tag Archives: independence of directors

Delaware Supreme Court Addresses Independence of Directors

A recent Delaware Supreme Court opinion addressed the independence and disinterestedness of corporate directors in the context of adequately pleading pre-suit demand futility as a prerequisite for pursuing a derivative claim. In Marchand v. Barnhill (Del. June 19, 2019), the court reversed the Court of Chancery’s dismissal of the case for failure to establish demand futility. … Continue Reading

Proposed Class Action Settlement Rejected by Chancery Court

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 complaint sought to … Continue Reading