Published on 30 Jan 2013 • Delaware |
"Unlike the bare rationality standard applicable to garden-variety decisions subject to the business judgment rule, the Revlon standard contemplates a judicial examination of the reasonableness of the board's decision-making process. Although linguistically not obvious, this reasonableness review is more searching than rationality review, and there is less tolerance for slack by the directors." (In re Netsmart Technologies, Inc. Shareholders Litigation, 924 A.2d 171, 192 (Del. Ch. 2007).)