United States: Delaware Chancery Court Finds CEO Violated Revlon Duties By Tilting Sale Process To Preferred Bidder And That The Bidder Aided And Abetted Disclosure Breaches - Kramer Levin Naftalis & Frankel LLP
In a recent post-trial decision, Delaware Chancellor Kathaleen St. J. McCormick found a CEO personally liable for breaching his fiduciary duties for tilting the company's sale to his preferred acquiror.
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