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Summaries and analysis of recent Delaware court decisions concerning business-related litigation.
- Chancery Finds Stockholder Conferred a Substantial Corporate Benefit by Challenging the Joint Vote of Two Classes of Common Stock under Section 242(b)(2) of the DGCL
- Chancery Finds Plaintiff Failed To State A Non-Exculpated Claim Against Special Committee Defendants In Complaint Challenging A Merger
- Court of Chancery Awards Plaintiffs Attorneys’ Fees and Costs in Section 225 Action for Obtaining a Substantial Benefit for the Corporation and its Stockholders
Morris James Blogs
Court Of Chancery Construes Ambiguous Voting Agreement
By Morris James LLP on May 29, 2014
Posted In Stockholders' Meetings
In re Westech Capital Corp., C.A. 8845-VCN (May 29, 2014)
This is an example of what happens when a stockholders agreement is badly drafted and the Court has to try to construe what it means. The opinion is interesting for the Court's method of analysis, using drafting history, presumptions found in corporate law and other interpretive aids.
Tags: Stockholders' MeetingsShare
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