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When is an independent director not independent? That's the question posed by a recent Delaware court decision involving Oracle Corporation director Joseph Grundfest. Noting the ties between Oracle and Stanford University, where Grundfest is a law professor, vice-chancellor Leo Strine, Jr., ruled that the director couldn't be considered independent. Attorneys who follow Delaware corporate law say it's another sign that the state's courts are taking a harder line in assessing director independence.
August 01, 2003 at 12:00 AM
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The original version of this story was published on Law.Com
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