Court of Chancery of Delaware

A motion to dismiss a derivative action involving defendants-directors' alleged grant to themselves of a significant equity stake in their company for little or no consideration is denied over claims that dismissal was required under Rule 23.1, and that plaintiff's claims for wrongful dilution, breach of the fiduciary duties of loyalty and candor, violation of 8 Del. C. section 160, and rescission should be dismissed.

Appellate Information

• Decided 04/17/2006
• Published 04/17/2006

Judges

Court

• Court of Chancery of Delaware

Counsel