Litigation Committee's Recommendation Rejected Amid Concerns Regarding Independence and Reasonableness of Investigation
05 April 2010
Foley Partner Gardner Davis and Associate Joanna White authored an article that appeared in the April 5, 2010 issue of the Delaware Corporate Litigation Reporter titled “Special Litigation Committee’s Recommendation Rejected Amid Concerns Regarding Independence And Reasonableness of Investigation.” The authors examine the possible impact of the Delaware Chancery Court’s decision in London v. Tyrell, stating that the message of the case is that directors should not serve on special litigation committees (SLC) unless prepared to deliver bad news to the company and the defendant directors. They add that members of an SLC must avoid the appearance of divided loyalties if the company wants the court to honor an SLC recommendation.
Author(s)
Related Insights
05 July 2024
Federal Court Enjoins Effect of FTC Noncompete Rule — But Only for Named Plaintiffs
24 July 2024
Events
Bitcoin 2024: Legal Aspects of Bitcoin Mining and Contracts
As part of the Bitcoin 2024 conference, Chanley Howell (Partner, Jacksonville) will be joining the panel Legal Aspects of Bitcoin Mining and Contracts.
03 July 2024
Viewpoints
The End of Chevron Deference and the Implications for the SEC
On June 28, 2024, the U.S. Supreme Court issued its decision in Loper Bright Enterprises v. Raimondo and Relentless Inc. v. Department of Commerce, overruling the Chevron doctrine.