Cooley M&A

MAY 16, 2022

The Council of the Corporation Law Section of the Delaware State Bar Association has provided recommendations to the Delaware General Assembly for a number of changes to the Delaware General Corporation Law, some of them significant, such as an amendment authorizing charter provisions that would eliminate the personal liability of specified officers for breaches of the duty of care—basically, an extension of DGCL Section 102(b)(7).

Corporation 59

Corporation 59

Shearman & Sterling

MAY 17, 2022

On May 13, 2022, Chancellor Kathaleen St. J. McCormick of the Delaware Court of Chancery dismissed certain stockholder derivative claims for breaches of fiduciary duty brought against the founder-CEO and other directors of Flashpoint Technology, Incorporated (the "Corporation"). SDF Funding LLC v. Fry, C.A. No. 2017-0732-KSJM (Del. Ch. May. 13, 2022).

Shares 52

Shares Corporation Funds Acquisitions 52

McCombie Group

MAY 16, 2022

This article was originally published in Forbes. Private equity’s (PE) playbook for creating investment value is relatively basic and straightforward (though not necessarily easy). Building on my prior article, The Alchemy of Private Equity Explained, this article delves into the strategies and tactics used by PE investors to boost EBITDA (Earnings before Interest, Taxes, Depreciation,… The post Private Equity’s Playbook appeared first on McCombie Group.

Private Equity 52

Private Equity Equities Investors Investment 52

Shearman & Sterling

MAY 17, 2022

On April 27, 2022, Vice Chancellor Sam Glasscock III of the Delaware Court of Chancery denied, in part, a motion to dismiss a derivative complaint against directors for breaches of fiduciary duties brought by stockholders of Universal Health Services Inc. (the "Corporation"). Knight v. Miller, C.A. No. 2021-0581-SG (Del. Ch. Apr. 27, 2022). Plaintiff, a stockholder, alleged that the directors serving on the board's compensation committee took advantage of an "obvious dip" in

Corporation 52

Corporation Stock IT 52

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Management

Shearman & Sterling

MAY 17, 2022

On May 13, 2022, Chancellor Kathaleen St. J. McCormick of the Delaware Court of Chancery dismissed certain stockholder derivative claims for breaches of fiduciary duty brought against the founder-CEO and other directors of Flashpoint Technology, Incorporated (the "Corporation"). SDF Funding LLC v. Fry, C.A. No. 2017-0732-KSJM (Del. Ch. May. 13, 2022).

Shares 40

Shares Corporation Funds Acquisitions 40