Swomley v. Schlecht ("SynQor"): Conflict Transaction Satisfies Test for Business Judgment after Price Element Reviewed for Gross Negligence | Practical Law
In a ruling from the bench in Swomley v. Schlecht ("SynQor"), Vice Chancellor Laster granted a motion to dismiss a complaint brought over a merger between a controlling stockholder and a private company, finding that the controlling stockholder satisfied the six-part test in Kahn v. M & F Worldwide for application of the busines judgment rule.