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Shareholder Demands Independent Directors

Holland & Knight LLP

Maryland Appellate Court Clarifies Applicability of Business Judgment Rule for Board Responding to Shareholder Demand

Holland & Knight LLP on

The Maryland Court of Special Appeals recently ruled in Oliveira v. Sugarman, -- A.3d --, 2016 WL 361055 (2016), that a Maryland board's rejection of a shareholder demand is subject to the presumption of the business judgment...more

Saul Ewing Arnstein & Lehr LLP

Board of Directors’ Response to Shareholder Demand Not Subject to Heightened Boland Scrutiny

A Maryland appellate court has ruled that a demand refusal by an entire board, consisting of a majority of disinterested and independent directors who chose not to appoint a special litigation committee, is entitled to the...more

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