A case scheduled for argument before the Delaware Supreme Court on Dec. 13 is being closely watched by the corporate bar for its potential to make waves in how much Delaware courts can scrutinize transactions that involve controlling shareholders.

Shareholders of Match Group Inc., the company that operates Match.com, Tinder and other dating platforms, say the Court of Chancery was wrong to find a reverse spinoff transaction was subject to the business judgment standard, allowing their case to be dismissed.