In a decision calling for caution in adhering to the presumption that corporate directors are independent disinterested actors, the Delaware Supreme Court voted 4-1 to revive a derivative suit against the directors of social gaming company Zynga Inc.
In an opinion by Chief Justice Leo E. Strine Jr. the en banc court said that although pleading was spotty, a dissident shareholder was entitled to an inference in his case that the majority of the company’s board could not have remained impartial in considering a pre-suit litigation demand.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
