Legal Opinion
Strassburger v. Earley
Court of Chancery of Delaware
Decided January 27, 2000No. C.A. 14267PublishedCited by 46 opinions
1Opinion of the Court
OPINION
JACOBS, Vice Chancellor.
In August, 1994, at a time when it was desperately short of cash, Ridgewood Properties, Inc., a Delaware corporation (“Ridgewood” or “the Company”) repurchased 83% of its outstanding common stock from its two largest stockholders— Triton Group, Ltd. (“Triton”) and Hesperus Limited Partners (“Hesperus”). To finance those repurchases, Ridgewood had to sell its principal operating assets. At issue in this post-trial Opinion is whether those repurchases constituted a breach of the fiduciary duty of loyalty owed by Ridgewood’s board of directors to the Company and…
2Cases cited16 opinions
- Weinberger v. UOP, Inc.Supreme Court of Delaware · 1983
- Cede & Co. v. Technicolor, Inc.Supreme Court of Delaware · 1994
- Unocal Corp. v. Mesa Petroleum Co.Supreme Court of Delaware · 1985
- Kahn v. Lynch Communication Systems, Inc.Supreme Court of Delaware · 1994
- Rosenblatt v. Getty Oil Co.Supreme Court of Delaware · 1985
11 more not listed; retrieve them via the Exa API.
3Cited by46 opinions
- In Re Walt Disney Co. Derivative LitigationCourt of Chancery of Delaware · 2005
- Crescent/Mach I Partners, L.P. v. TurnerCourt of Chancery of Delaware · 2000
- In re Orchard Enterprises, Inc.Court of Chancery of Delaware · 2014
- In Re JP Morgan Chase & Co.Supreme Court of Delaware · 2006
- In Re Transkaryotic Therapies, Inc.Court of Chancery of Delaware · 2008
41 more not listed; retrieve them via the Exa API.