Under Delaware law, it is well established that in order to bring a derivative suit, a stockholder of a corporation must either (i) make a demand upon the board to
Continue Reading Must a Stockholder Plead Demand Excusal for Breach of a Stockholder Approved Plan as a Contract?
derivative action
Arguably Poor Business Judgment, Without More, Does Not Excuse Demand In Derivative Action
By Fox Rothschild LLP on
In the case of Freedman v. Adams, et al., No. 230, 2012 (Del. Supr., Jan. 14, 2013), the Delaware Supreme Court considered on appeal whether a derivative…
Continue Reading Arguably Poor Business Judgment, Without More, Does Not Excuse Demand In Derivative Action
Delaware Court of Chancery Addresses Procedure for Pursuing Claims on Behalf of a Limited Liability Company After Its Dissolution and Cancellation
By Sheldon Rennie on
The Delaware Court of Chancery in Matthew v. Laudamiel, C.A. No. 5957-VCN, (Del. Ch. Feb. 21, 2012) addressed, among other things, the issue of whether the dissolution and cancellation of…
COURT DENIES SECTION 220 SUIT FILED AFTER DERIVATIVE ACTION
By Sheldon Rennie on
In Central Laborers Pension Fund v. News Corporation, C.A. No. 6287-VCN (Del. Ch. Nov. 30, 2011), denied a shareholder’s petition for inspection of books and records under Section…
Continue Reading COURT DENIES SECTION 220 SUIT FILED AFTER DERIVATIVE ACTION