The Delaware Supreme Court upheld a UIP Cos. stock issuance that broke a deadlock between a commercial real estate investor and his late partner’s widow who sought to liquidate her stake in the company.
Derivative Litigation Eighth Circuit Affirms Dismissal of Derivative Securities Action - Carpenters’ Pension Fund of Ill. v. Neidorff, No. 20-3216 (8th Cir. 2022) - Following Centene.
Can a board of directors intentionally disenfranchise a 50% shareholder to break a deadlock while also acting with sufficient good faith to avoid liability?
A Delaware Supreme Court reversal of a Chancery Court decision that dismissed a 50% stockholder's challenge to a stock sale that diluted her equity and blocked her custodianship suit produced another dismissal Monday, with Delaware's chancellor finding "compelling justification" for the deal.
Compelling Justification Required when Interfering with Stockholder Voting Rights | Gray Reed jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.