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Fiduciary Duty › Board of Directors › Credit Agreements

Morris James LLP

Delaware Supreme Court Affirms Chancery Decision in Section 225 Control Dispute

Morris James LLP on

Ravindran v. Glas Trust Co. LLC, No. 463, 2023 (Del. Sept. 23, 2024) - In affirming the Court of Chancery’s determination in a Section 225 action that Timothy Pohl (“Pohl”) was the sole director and officer of a Delaware...more

Sheppard Mullin Richter & Hampton LLP

“Dead Hand Proxy Puts” Garner Increased Stockholder Scrutiny In Delaware

Sheppard Mullin Richter & Hampton LLP on

A ruling last fall by the Delaware Chancery Court has prompted a wave of 8 Del. C. § 220 books and records inspection demands on (and threatened litigation against) Delaware corporations that have entered into credit...more

Morrison & Foerster LLP

Board Enjoined from Impeding Hostile Consent Solicitation Without First Approving Rival Director Slate under Credit Agreement...

Morrison & Foerster LLP on

The Delaware Chancery Court recently enjoined a board of directors from impeding a stockholder’s solicitation of written consents to replace the board, unless the board first approved the stockholder’s nominees for purposes...more

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