Barry M. Klayman, left, and Mark E. Felger, right. Courtesy photos Director's Access to Company's Privileged Information Upheld Despite Proxy Contest
Where two halves of a deadlocked board are competing in a proxy contest, can one half assert the corporation's privilege against the other?
June 01, 2022 at 09:00 AM
8 minute read
Where two halves of a deadlocked board are competing in a proxy contest, can one half assert the corporation's privilege against the other? In In re Aerojet Rocketdyne Holdings, C.A. No. 2022-0127-LWW, (Del. Ch. May 5, 2022), Vice Chancellor Lori Will concluded that it could not. The even division of the board meant that neither side could benefit from the company's resources, including its privilege, to the exclusion of the other.
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