Supreme Court of Delaware

In a derivative action instituted by a non-shareholder director alleging breaches of fiduciary duties by his fellow directors, dismissal of complaint for lack of standing is affirmed over claims that: 1) a director should have the right to bring a derivative action for the same reasons that equity has traditionally granted stockholders the right to do so; and 2) extension of standing to a director will promote Delaware public policy.

Appellate Information

• Decided 02/12/2008
• Published 02/12/2008

Judges

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

Court

• Supreme Court of Delaware

Counsel

• For Appellant:
  
• Kevin G. Abrams, Esquire, J. Travis Laster, Esquire (argued), and A. Thompson Bayliss, Esquire, of Abrams & Laster LLP, Wilmington, Delaware for Appellant.


• For Appellees:
  
• Michael A. Weidinger, Esquire (argued) and Patricia R. Uhlenbrock, Esquire, of Morris James, LLP, Wilmington, Delaware;  Michael J. Maimone, Esquire, and Paul D. Brown, Esquire, of Edwards Angell Palmer & Dodge LLP, Wilmington, Delaware for Appellees.