Key Points - On December 7, 2021, the Delaware Supreme Court unanimously upheld the Court of Chancery’s decision in AB Stable VIII LLC v. MAPS Hotels and Resorts One.
For nearly two decades, the question of whether a formal demand on a company's board of directors was required beforea stockholder could pursue derivative litigation on behalf of a corporation.
On September 23, 2021—in United Food and Commercial Workers v. Zuckerberg—the Delaware Supreme Court endorsed a new universal three-part demand futility test.
On September 23, 2021 in United Food and Commercial Workers v. Zuckerberg the Delaware Supreme Court endorsed a new universal three-part demand futility test. The decision will likely.