https://francinemckenna.com/wp-content/francine-mckenna.png 0 0 Francine https://francinemckenna.com/wp-content/francine-mckenna.png Francine2008-01-10 10:26:002008-01-10 10:26:00The Delaware Top Five Great Debate
Go here and here and here for a great debate between two of law’s biggest studs on the Top Five cases of 2007 from the Delaware Chancery Court.
Professor J. Robert Brown and Francis G.Xavier Pileggi debate whether the court is pro- or con- shareholders. There are some great links to the details, in particular for cases involving slamdowns excessive compensation grabs while Directors were being sheep.
“…the business judgment rule is not a “blank check.” The court stated that “the rule does not require the court to bless the conclusion of a director that is self-evidently nonsense on stilts, nor does it protect a board that looks into the sun and names it the moon.”
Where are all the cases of Directors getting slammed on options backdating? Hey plaintiff’s bar, I’m still waiting.
And when are we going to see a case regarding accountant’s participation in the scheme go to trial? It would be nice to finally dig under that rock.