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Vanderbilt Law Review

Delaware Court Refuses to Dismiss Common Stockholder’s Challenge to Redemption of Preferred Stock Owned by Controlling Stockholder

Posted by on Monday, September 18, 2017 in Delaware Corporate Law Bulletins, En Banc.

Delaware-Court-Refuses-to-Dismiss-Common-Stockholders-Challenge-to-Redemption-of-Preferred-Stock-Owned-by-Controlling-Stockholder1

ABSTRACT

Fiduciary standard of conduct requires board to maximize long-term value of common stock when exercising discretion in connection with contract rights of preferred stockholders

AUTHOR

Robert S. Reder

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.