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Delaware Court Addresses Entrenchment Claims Brought Against Directors Under Activist Hedge Fund Attack

Posted by on Sunday, June 19, 2016 in Delaware Corporate Law Bulletins, En Banc, Essays.

Delware Court Addressess Entrenchment Claims Brought Against Directors Under Activist Hedge Fund Attack

ABSTRACT

Chancery Court finds terms of settlement with hedge fund not subject to Unocal enhanced scrutiny review.

But refuses to dismiss fiduciary claims arising from defensive bylaw amendments adopted post-settlement.

AUTHOR

Robert S. Reder
Professor of the Practice of Law at Vanderbilt University Law School, has been serving as a consulting attorney at Milbank, Tweed, Hadley & McCloy LLP in New York City since his retirement as a partner in April 2011.

Stanley Onyeador
Vanderbilt University, J.D./M.B.A. Candidate, May 2017. Thanks to Professor Reder and the Vanderbilt Law Review for the ability to participate in this En Banc series.