Delaware Court Of Chancery Holds That Former Stockholders Can Pursue Direct Claims For Breach Of Fiduciary Duty Arising From Issuance Of Shares To Controlling Stockholder For Allegedly Insufficient Consideration
Shearman & Sterling
NOVEMBER 10, 2020
Plaintiffs alleged that the Company engaged in a private placement of stock to the controlling stockholder at a price that undervalued the shares that were issued. Stockholder Litigation, C.A. 2019-0757-SG (Del. Rossette, 906 A.2d 2d 91 (Del.
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