Andrews Corporate Officers and Directors Liability Litigation Reporter
September 24, 2001
Breach of Duty
Copyright (c) 2001 Andrews Publications
FREDERICK'S OF HOLLYWOOD MERGER CHALLENGE TOO SKIMPY, SAYS DEL. HIGH CT.
Malpiede v. Townson
A shareholder suit accusing Frederick's of Hollywood Inc.'s board of selling the company too cheaply was too skimpy to prove that the directors breached a duty of loyalty, the Delaware Supreme Court has ruled. It affirmed a lower court ruling...