Supreme Court of Delaware

Allegations that Martha Stewart breached her fiduciary duties by illegally selling ImClone stock and by mishandling the media attention that followed were properly dismissed. Plaintiff failed to make demand on the board before pursuing a derivative suit, and presuit demand was not excused.

Appellate Information

• Decided 03/31/2004
• Published 03/31/2004

Judges

• VEASEY, Chief Justice., Before VEASEY, Chief Justice, HOLLAND, BERGER, STEELE and JACOBS, Justices, constituting the Court en Banc.

Court

• Supreme Court of Delaware

Counsel

• For Appellant:
  
• Pamela S. Tikellis, Esquire (argued), Robert J. Kriner, Jr., Esquire, and Brian D. Long, Esquire, of Chimicles & Tikellis LLP, Wilmington, Delaware;  Of Counsel:  Nicholas E. Chimicles, Esquire and James R. Malone, Jr., Esquire, of Chimicles & Tikellis LLP, Haverford, Pennsylvania;  Lawrence A. Sucharow, Esquire and Joel Bernstein, Esquire of Goodkind, Labaton, Rudoff & Sucharow LLP, New York, New York;  Reginald A. Krasney, Esquire of Wayne, Pennsylvania, for Appellant.


• For Appellees:
  
• A. Gilchrist Sparks, III, Esquire, and S. Mark Hurd, Esquire, of Morris, Nichols, Arsht & Tunnell, Wilmington, Delaware;  Of Counsel:  Barry G. Sher, (argued), and Brett D. Jaffe, Esquire, of Fried, Frank, Harris, Shriver & Jacobson LLP, New York, New York, for Appellees Patrick, Martinez, Seligman, Moore, and Ubben and Nominal Appellee Martha Stewart Living Omnimedia, Inc., Andre G. Bouchard, Esquire, of Bouchard, Margules & Friedlander, P.A., Wilmington, Delaware;  Of Counsel:  Barbara Moses, Esquire, of Morvillo, Abramowitz, Grand, Iason & Silberberg, P.C., New York, New York, for Appellee Stewart.