In re Jenzabar, Inc., DeFAX Case No. D66432 (Del. Ch. July 30, 2014) Glasscock, V.C. (17 pages).
Under Massachusetts law, after trust had expired while still holding assets on behalf of beneficiary, trustee was empowered to take necessary actions to preserve assets for purposes of distribution and wind-up but lacked authority to maintain stockholder derivative claims. Defendants' motion to dismiss granted.
|August 20, 2014
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