The court held that the executive's decision to accept lesser charges in order to spare the company "expense [and] distraction" does not satisfy the "successful on the merits or otherwise" clause of Delaware General Corporation Law or the company's bylaws.
February 15, 2012 at 12:00 AM
1 minute read
The court held that the executive’s decision to accept lesser charges in order to spare the company "expense [and] distraction" does not satisfy the "successful on the merits or otherwise" clause of Delaware General Corporation Law or the company’s bylaws.
Vice Chancellor Sam Glasscock III issued the 50-page opinion Feb. 7 inHermelin v. K-V Pharmaceutical Co .
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