Commercial Law - Top Cases
4/1/2009 8:40:24 AM EST
Gantler v. Stephens, 2009 Del. LEXIS 33
Dismissal was reversed; shareholders' allegations of disloyalty rebutted business judgment rule presumption, and officers and directors owed duty of care and loyalty. Scope of shareholder ratification doctrine was limited to circumstance where informed shareholder vote approved director act that did not require shareholder approval to be effective.
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