Court of Chancery of Delaware

In an action brought by a shareholder alleging directors breached their fiduciary duties in refusing to bring a particular lawsuit, the court concludes that demand is excused and that a claim for breach of fiduciary duties may proceed. However, a motion to dismiss is granted with respect to a nominal defendant on the grounds that a subsidiary and its board of directors played no role in the events that formed the basis of plaintiff's claims.

Appellate Information

• Decided 07/11/2006
• Published 07/25/2006

Judges

Court

• Court of Chancery of Delaware

Counsel