Corporate
Dec. 9, 2015
Delaware decision bolsters protections for majority shareholders
Last month, the Delaware high court affirmed that it is appropriate to determine at the pleading state whether a controlling stockholder transaction is covered by the business judgment rule. By Eric S. Waxman
Last month, the Delaware Supreme Court bolstered the protection afforded to majority or controlling stockholders seeking to buyout the minority, provided the transaction is structured in accordance with the requirements set forth in Kahn v. M&F Worldwide Corp., 88 A.3d 635 (Del. 2014) (MFW). In a summary order in Swomley v. Schlecht, No. 180, 2015 (Del. Nov. 19, 2015), the court affirmed Vice Chancellor Travis Laste...
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