Special Situations Fund v. Travel Centers

Special Situations Fund III QP, L.P., et al., v. Travel Centers of America Inc., et al., No. 678, September Term, 2024. Opinion by Nazarian, J. BUSINESS JUDGMENT RULE Under the business judgment rule, a reviewing court presumes that the board of directors acted in good faith and in the best interests of the corporation. Md. Code (1975, 2014 Repl. Vol., Supp. 2024), § 2-405.1(g) of the Corporations & Associations Article. To overcome the business judgment presumption, a claimant must plead facts that demonstrate fraud, bad faith, unconscionable conduct, or a conflict of interest relating to…