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Corporate & Securities Law

: Jim Hamilton's World of Securities Regulation

By James Hamilton

Decision to Reject Merger and Deregister with SEC Protected by Business Judgment RuleA company board of director?s rejection of a merger offer and their termination of a process they had begun to sell the company was protected by the business judgment rule. Similarly, the Delaware Chancery court also held that a concomitant decision to reclassify company stock and deregister the company with the SEC was also protected despite the interest of some directors in the transaction. Shareholder ratific read more

Full post as published by Jim Hamilton's World of Securities Regulation on March 09, 2008 (boomark / email).