In a previous alert, we discussed the Delaware Court of Chancery’s decision in In re Mindbody, Inc. Stockholders Litigation. In the decision, the court declined to dismiss breach of fiduciary duty claims against the chief...more
A director’s duty to make a good faith effort to oversee the operations and management of a Delaware company is well-established. In a recent case, Marchand v. Barnhill, the Delaware Supreme Court provided guidance to boards...more
7/18/2019
/ Blue Bell Creameries ,
Board of Directors ,
Breach of Duty ,
Business Operations ,
Caremark claim ,
Controlling Stockholders ,
DE Supreme Court ,
Derivative Suit ,
Dismissals ,
Fiduciary Duty ,
Food and Drug Administration (FDA) ,
Food Contamination ,
Food Manufacturers ,
Food Recalls ,
Good Faith ,
Liability ,
Listeria ,
Manufacturing Facilities ,
Oversight Duties ,
Reversal ,
Risk Management
A recent decision by the Delaware Supreme Court provides independent directors, such as special committee members, with the ability to escape protracted fiduciary duty litigation during its initial stages. The court’s...more