In allowing a shareholder suit to proceed, a Commercial Division judge has found the "business judgment rule" is inapplicable where a company's directors ignored red flags and rushed into an ill-advised acquisition in order to avoid losing their investments.
June 30, 2015 at 12:00 AM
1 minute read
In allowing a shareholder suit to proceed, a Commercial Division judge has found the “business judgment rule” is inapplicable where a company’s directors ignored red flags and rushed into an ill-advised acquisition in order to avoid losing their investments.
In a case of apparent first impression, Justice Marcy Friedman ruled that the interests of company directors conflict with shareholder interests, and denied a motion to dismiss the shareholder suit.
Presented by BigVoodoo
The New York Law Journal honors attorneys and judges who have made a remarkable difference in the legal profession in New York.
The premier educational and networking event for employee benefits brokers and agents.
The Legal Intelligencer honors lawyers leaving a mark on the legal community in Pennsylvania and Delaware.
Shipman is seeking an associate to join our Labor & Employment practice in our Hartford, New Haven, or Stamford office. Candidates shou...
Evergreen Trading is a media investment firm headquartered in NYC. We help brands achieve their goals by leveraging their unwanted assets to...
Duane Morris seeks an associate with 3-4 years of experience to join its Employee Benefits and Executive Compensation Group in its Philadelp...
MELICK & PORTER, LLP PROMOTES CONNECTICUT PARTNERS HOLLY ROGERS, STEVEN BANKS, and ALEXANDER AHRENS
