Attorneys are describing as a setback for plaintiffs a recent Delaware Court of Chancery’s dismissal of a stockholder’s breach of fiduciary duty case claiming that Sycamore Networks Inc. executives and directors used improper backdating practices on stock options.
The decision means that plaintiffs must clearly illustrate directors’ culpability in order for them to file a lawsuit before asking the board to investigate options problems.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]