Kallick v. SandRidge Energy: Delaware Court of Chancery Finds Board Likely Breached Fiduciary Duty by Failing to Approve Dissident Nominees | Practical Law
In a proxy-contest dispute, the Delaware Court of Chancery ruled in Kallick v. SandRidge Energy that a board's duties under Unocal required it to either approve a dissident slate of directors to avoid triggering a "proxy put" in accordance with Amylin or refrain from soliciting any further consent revocations.