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Business Judgment Rule

Mintz

[Podcast] Mintz On Air: Practical Policies — Real vs. Robot: Bots in the Boardroom

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What happens when AI has a seat in the boardroom? In the latest episode of Mintz On Air: Practical Policies, Real vs. Robot: Bots in the Boardroom, host Jen Rubin is joined by Member Melanie Levy for an unscripted...more

Jackson Walker

Governance Under Texas Law - What Changes for Your Board

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This article is part one of six articles in the “DExit to Texas: What You Need to Know About Reincorporating in the Lone Star State” series, which covers why Delaware companies are considering redomiciling in Texas and the...more

Mintz - Employment Viewpoints

Mintz On Air: Practical Policies — Real vs. Robot: Bots in the Boardroom

What happens when AI has a seat in the boardroom? In the latest episode of Mintz On Air: Practical Policies, Real vs. Robot: Bots in the Boardroom, host Jen Rubin is joined by Member Melanie Levy for an unscripted...more

Vinson & Elkins LLP

Delaware Court of Chancery Upholds Removal of “Imperious” CEO Under DGCL Section 225

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On April 20, 2026, Vice Chancellor J. Travis Laster issued a post-trial opinion in DSM HoldCo, Inc. v. Demoulas, C.A. No. 2025-1020-JTL (Del. Ch. Apr. 20, 2026), an action brought under 8 Del. C. § 225(a) by the parent...more

Jackson Walker

"DExit" Explained - Why Companies Are Leaving Delaware for Texas

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This article is part one of six articles in the “DExit to Texas: What You Need to Know About Reincorporating in the Lone Star State” series, which covers why Delaware companies are considering redomiciling in Texas and the...more

Cadwalader, Wickersham & Taft LLP

Board Authority Prevails Over Performance in CEO Removal

On April 20, 2026, the Delaware Court of Chancery, following a post-trial decision, upheld a board decision to suspend and terminate a long-tenured and highly successful CEO, applying the business judgment rule and rejecting...more

Bradley Arant Boult Cummings LLP

Fiduciary Duty Landscape for Business Owners and Investors: Take Time to Learn the Rules Before Jumping into the Game

People typically enter into business partnerships with the best of intentions. But when things go awry down the road, the minority partner may claim that the majority owner violated a fiduciary duty by failing to act in the...more

Goodwin

“There’s Only One Boss”: Delaware Court of Chancery Confirms Board’s Broad Authority to Remove a CEO in Dramatic Market Basket...

Goodwin on

In a post-trial opinion arising from a highly fact-intensive dispute that reads as much like a family drama as a corporate governance treatise, the Delaware Court of Chancery ruled in DSM HoldCo, Inc. v. Demoulas, C.A. No....more

Herbert Smith Freehills Kramer

What the Star decision means for M&A in Australia

In brief - Directors and management teams are asking what Justice Lee’s recent decision Star Entertainment (Star) means for M&A. The decision does not call for any radical change in how major M&A processes are run,...more

ArentFox Schiff

The ‘DExit’ That Never Happened

ArentFox Schiff on

When the Delaware Supreme Court held in Maffei v. Palkon that Tripadvisor’s reincorporation from Delaware to Nevada should be reviewed under the business judgement rule and not the entire fairness standard (all but ensuring...more

Marshall Dennehey

Appellate Court Applies Business Judgment Rule and Reverses Summary Judgment in Condominium Assessment Dispute

Marshall Dennehey on

New Horizons Condo. Master Ass’n, Inc. v. Harding, (Fla. 3d DCA) - An appeals court ruled that the trial court erred in judgement for condo owners in a dispute over association fees. While the court agreed that the...more

Akin Gump Strauss Hauer & Feld LLP

Delaware Court of Chancery Upholds CEO Termination Under the Business Judgment Rule in High-Profile Family Business Dispute

In DSM HoldCo, Inc. v. Demoulas, Vice Chancellor Laster issued a comprehensive post-trial opinion addressing fiduciary duties in the context of a closely held family business. The case involved Market Basket, a New England...more

Vinson & Elkins LLP

Delaware Court of Chancery Retroactively Applies Texas Forum Selection Clause to Dismiss Derivative Lawsuits

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On April 13, 2026, Vice Chancellor Bonnie W. David of the Delaware Court of Chancery dismissed three derivative lawsuits pursuant to a bylaw that designated Texas as the exclusive forum for derivative lawsuits, adopted in...more

Proskauer - The Capital Commitment

Risk #10: Fiduciary Duties Revisited: Delaware Law and the Fund Manager’s Evolving Obligations

A significant shift in Delaware law is reshaping how courts evaluate conflicted transactions involving controlling stockholders, including private fund managers that control portfolio companies. The changes make applying...more

A&O Shearman

Delaware Court Of Chancery Declines To Dismiss Fiduciary Duty And Aiding And Abetting Claims After Applying Entire Fairness To...

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On February 27, 2026, Vice Chancellor J. Travis Laster of the Delaware Court of Chancery granted in part and denied in part defendants’ motions to dismiss in a putative stockholder class action challenging a $4 billion...more

A&O Shearman

ASIC v Bekier: a landmark Australian decision on director and officer accountability

A&O Shearman on

In a significant corporate governance decision, the Federal Court of Australia has found the former chief executive officer (CEO), and the former company secretary and chief legal and risk officer (CLRO) of ASX-listed casino...more

McGuireWoods LLP

Delaware Court’s EngageSmart Decision Clarifies Sell-Side Financial Advisers Still Face Heightened Aiding and Abetting Liability

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The Delaware Supreme Court’s 2024 decision in In re Mindbody, Inc., Stockholder Litigation and other decisions limited aiding and abetting liability for arms’ length acquirers, holding that an acquirer’s passive failure to...more

Polsinelli

Federal Court Grants Summary Judgment in ESOP Releveraging Case, Rejecting Novel Dilution Theory

Polsinelli on

Key Takeaways - A federal district court in Arkansas granted summary judgment in favor of an ESOP sponsor, its board and the ESOP trustee, rejecting claims that a two-step releveraging transaction violated ERISA fiduciary...more

Morrison & Foerster LLP

Red Flags Everywhere! – Ten Risks for Directors – Week 4

Each week for the next 10 weeks, we will publish an installment of our Red Flags Everywhere! series, highlighting key risk areas that public companies and their boards of directors should keep top of mind. This week, we...more

Cadwalader, Wickersham & Taft LLP

SB 21 Survives: Delaware Supreme Court Confirms Validity of DGCL Amendments

On February 27, 2026, in Rutledge v. Clearway Energy Group LLC, the Delaware Supreme Court upheld the constitutionality of Delaware Senate Bill 21 (SB 21), which amends § 144 of the Delaware General Corporation Law....more

A&O Shearman

ExxonMobil proposes reincorporation to Texas amid growing corporate migration

A&O Shearman on

On March 10, 2026, ExxonMobil announced a unanimous recommendation by its board of directors that shareholders approve the company's reincorporation from New Jersey to Texas....more

Vinson & Elkins LLP

Lone Star Ambitions: More Public Companies Propose Moving to Texas

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In the preliminary proxy statement for its 2026 annual meeting of shareholders, Exxon Mobil Corp (“Exxon”) proposes that shareholders approve a plan to reincorporate the company in Texas, which would end its 144-year legal...more

Miles & Stockbridge P.C.

‘DExit’ to Maryland? An Alternative for Public Companies

Many corporations have changed their state of incorporation to move away from Delaware or are considering doing so. There are many reasons to consider alternative jurisdictions to Delaware but most often cited by public...more

Nutter McClennen & Fish LLP

Nutter Bank Report: February 2026

The OCC has issued a final rule to amend the requirements for chartering of national banks to clarify the authority of national banks limited to the operations of trust companies (national trust banks) to permit them to...more

Thompson Coburn LLP

10 Things to Know About the Texas Business Court and the Rise of ‘Dexit’

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A growing number of companies are rethinking where they call home, and some are choosing to leave Delaware for Texas, a trend that’s picked up the nickname “Dexit.” With the launch of the Texas Business Court in the fall of...more

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