Mack Sperling at the North Carolina Business Litigation Report has reviewed a recent decision in which the shareholders sought to bring a claim that the board had not maximized shareholder value in a merger transaction. The problem with that approach was that, as the Court found, that such a claim is derivative, and not direct, in nature. Having not satisfied a requirement for bringing a derivative action, namely no demand upon the board, the suit was dismissed.
Click here Don't Sue A North Carolina Board Of Directors Over A Merger Without Reading This Case to access his posting.
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