In re MFW Shareholders Litigation, 67 A.3d 496 (Del. Ch. 2013)

デラウェア州衡平法裁判所のStrine首席裁判官が,2013年5月29日のIn re MFW Shareholders Litigation, 67 A.3d 496 (Del. Ch. 2013) (Strine, C.)において,合併を用いた審査基準で,business judgment ruleを用いるための次の6つの条件を示しました。

(i) the controller conditions the procession of the transaction on the approval of both a special committee and a majority of the minority stockholders, (ii) the special committee is independent, (iii) the special committee is empowered to freely select its own advisors and to say no definitively, (iv) the special committee meets its duty of care, (v) the vote of the minority is informed, and (vi) there is no coercion of the minority.

Freezeoutsにおける審査基準に興味があるのであれば,とても興味深い判決だと思います。

via The CLS Blue Sky Blog, Delaware Business Litigation Report, DealLawyers.com, ProfessorBainbridge.com, M&A Law Prof Blog, DP&W, RL&F, Delaware Corporate & Commercial Litigation Blog, ST&B, PWRWG, S&C, L&W, WSGR, SASMF