DE Court of Chancery Denies Motion to Dismiss Claim of Breach of Duty of Loyalty by Directors Who Favored Preferred Stockholders | Practical Law

DE Court of Chancery Denies Motion to Dismiss Claim of Breach of Duty of Loyalty by Directors Who Favored Preferred Stockholders | Practical Law

An update on a Delaware Court of Chancery decision finding a reasonable inference of a breach of the duty of loyalty by directors who approved a transaction to the benefit of a corporation's preferred stockholders and detriment of the common stockholders.

DE Court of Chancery Denies Motion to Dismiss Claim of Breach of Duty of Loyalty by Directors Who Favored Preferred Stockholders

by PLC Corporate & Securities and PLC Finance
Published on 07 Aug 2009 • Delaware, USA (National/Federal)
An update on a Delaware Court of Chancery decision finding a reasonable inference of a breach of the duty of loyalty by directors who approved a transaction to the benefit of a corporation's preferred stockholders and detriment of the common stockholders.