Supreme Court of Delaware
Versata Enters., Inc. v. Selectica, Inc., 193, 2010
In an action seeking a declaration that a "poison pill" shareholders' rights provision was valid and enforceable, judgment for plaintiffs is affirmed where: 1) the protection of company net operating loss carryforwards (NOLs) may be an appropriate corporate policy that merits a defensive response when they are threatened; and 2) the board demonstrated that it conducted a reasonable investigation before determining that the NOLs were an asset worth protecting.
Appellate Information
- Decided 10/04/2010
- Published 11/11/2010
Judges
- Randy Holland
Court
- Supreme Court of Delaware
Counsel
- For Appellant:
- Megan Ward Cascio, Gregory V. Varallo