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Samples in periodicals archive:
The court s ruling addresses the business judgment rule and the independence of mutual fund directors and trustees in the face of shareholder derivative litigation challenging their own conduct.
Landlord couldn't rely on the business judgment rule to avoid the lease requirements.
This Part analyzes the current state of the law of the duty of care under the business judgment rule given the existence of permissive exculpation clause statutes.
They then examine relationships among shareholders, corporations, and corporate creditors; the functioning of the voting system, including proxy rules; the duty of care; and the business judgment rule and other legal devices that insulated corporate officers from shareholder liability.
The potentially crippling chilling effect of judicial second-guessing of directors' decisions is precisely what motivated the development of the business judgment rule in Delaware corporate law.
In Delaware, where Sears is incorporated, investors must demand that the board take action before suing, unless the directors are disinterested or independent, or the transaction being challenged is protected by the business judgment rule.
He added that the business judgment rule, however does not apply to officers.
In the much-publicized Disney decision in 2006, the Delaware Supreme Court reaffirmed the business judgment rule in the context of compensation decisions by a board of directors.