THE DELAWARE COURTS HAVE NOT BACKED AWAY FROM THE RULE THAT A CORPORATION MUST PUT THE INTERESTS OF ITS SHAREHOLDERS ABOVE ALL OTHERS
A quote from an opinion by the Delaware Court of Chancery issued October 7, 2019:
“Delaware case law is clear that the board of directors of a for-profit corporation . . . must, within the limits of its legal discretion, treat stockholder welfare as the only end, considering other interests only to the extent that doing so is rationally related to stockholder welfare.”
Via Professor Bainbridge.
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