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Is there a precedent of the sort? I am curious of the long term effect of this ruling in CEO effect. Especially since the burden of proof/justification actually
by soulbadguy 3y ago
Is there a precedent of the sort? I am curious of the long term effect of this ruling in CEO effect. Especially since the burden of proof/justification actually falls on the board. It might make it harder for captured boards to reward CEOs
- nocoiner 3y agoIf a board following the (well defined) process, the board is, under Delaware law, entitled to famously broad deference to their decisions. If they can’t run an aboveboard process and procure the necessary shareholder approvals, then that’s probably in a lot of cases a pretty good sign that they’re not really doing their job as a board very effectively.