Andrews Corporate Officers and Directors Liability Litigation Reporter
December 18, 2000
Breach of Duty
Copyright (c) 2000 Andrews Publications
BOARD HAD DUTY TO GET BEST PRICE EVEN IF MAJORITY COULD BLOCK OTHER DEALS
McMullin v. Beran
Delaware's high court revived a shareholder challenge to the sale of ARCO Chemical Company after finding that its directors might have breached their duty by rubber-stamping the deal that ARCO's parent, Atlantic Richfield Co., negotiated. Even though...
BOARD HAD DUTY TO GET BEST PRICE EVEN IF MAJORITY COULD BLOCK OTHER DEALS
McMullin v. Beran