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Court Of Chancery Clarifies Controller Duty

Posted In Fiduciary Duty

In re Synthes Inc. Shareholder Litigation,  C.A. 6452-CS (August 17, 2012)

This decision clarifies the extent of a controlling shareholder's duties when selling her company. The controller is not required to sacrifice her own interests to benefit the minority, such as by accepting less for herself than others receive. Of course, the safe harbor is still equal treatment.

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