Delaware Court of Chancery on The Circle in Georgetown, Delaware. Credit: Antony-22 via Wikimedia Commons 'Bent on Entrenchment'?: Shareholder Suits Claim 2 Poison Pills Are Anti-Takeover Front for Boards
The two complaints mirror each other, with each citing the same Delaware case law and bringing two breach of fiduciary duty claims—one alleging disclosure violations and the other that board members are using the plans as a means of entrenching themselves.
April 11, 2024 at 06:08 PM
4 minute read
Bernstein Litowitz Berger & Grossman has filed two shareholder suits in the Court of Chancery that claim LSB Industries Inc. and United Airlines are each trying to sidestep poison pill laws and thwart shareholder activism.
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