Legal Opinion
Auerbach v. Bennett
New York Court of Appeals
Decided July 9, 1979PublishedCited by 388 opinions
1Opinion of the Court
OPINION OF THE COURT
Jones, J.
While the substantive aspects of a decision to terminate a shareholders’ derivative action against defendant corporate directors made by a committee of disinterested directors appointed by the corporation’s board of directors are beyond judicial inquiry under the business judgment doctrine, the court may inquire as to the disinterested independence of the *624members of that committee and as to the appropriateness and sufficiency of the investigative procedures chosen and pursued by the committee. In this instance, however, no basis is shown to warrant either inquiry…
2Cases cited12 opinions
- Friends of Animals, Inc. v. Associated Fur Manufacturers, Inc.New York Court of Appeals · 1979
- Pollitz v. . Wabash R.R. Co.New York Court of Appeals · 1912
- Koral v. Savory, Inc.New York Court of Appeals · 1937
- Gall v. Exxon Corp.District Court, S.D. New York · 1976
- Martin v. RonanNew York Court of Appeals · 1979
7 more not listed; retrieve them via the Exa API.
3Cited by388 opinions
- Kamen v. Kemper Financial Services, Inc.Supreme Court of the United States · 1991
- Fed. Sec. L. Rep. P 98,860 Athalie Doris Joy v. Nelson L. North, Nelson L. NorthCourt of Appeals for the Second Circuit · 1982
- United States v. American Telephone & Telegraph Co.District Court, District of Columbia · 1983
- Zapata Corp. v. MaldonadoSupreme Court of Delaware · 1981
- Levandusky v. One Fifth Avenue Apartment Corp.New York Court of Appeals · 1990
383 more not listed; retrieve them via the Exa API.