Legal Opinion
Maldonado v. Flynn
Court of Chancery of Delaware
Decided March 18, 1980PublishedCited by 42 opinions
1Opinion of the Court
HARTNETT, Vice Chancellor.
Plaintiff (“Maldonado”) brought this stockholder’s derivative action against Zapata Corporation (“Zapata”)" and individual defendants who are, or were, officers or directors of Zapata, alleging a breach of fiduciary duty by the individual defendants. Zapata now seeks, by motion, to compel the dismissal of this action as to all defendants because an ostensibly independent committee of the directors of Zapata, after.this suit was commenced, concluded, in the exercise of business judgment, that the pendency of the suit was not in the best interests of Zapata. For the…
2Cases cited42 opinions
- Ashwander v. Tennessee Valley AuthoritySupreme Court of the United States · 1936
- Hawes v. OaklandSupreme Court of the United States · 1882
- Guth v. Loft, Inc.Supreme Court of Delaware · 1939
- Burks v. LaskerSupreme Court of the United States · 1979
- Auerbach v. BennettNew York Court of Appeals · 1979
37 more not listed; retrieve them via the Exa API.
3Cited by42 opinions
- Aronson v. LewisSupreme Court of Delaware · 1984
- Zapata Corp. v. MaldonadoSupreme Court of Delaware · 1981
- Fed. Sec. L. Rep. P 98,000 Ora E. Gaines v. D. J. Haughton, Lois A. And James Fitzpatrick v. D. J. HaughtonCourt of Appeals for the Ninth Circuit · 1981
- Fed. Sec. L. Rep. P 99,484 John F. Maher v. Zapata Corporation v. William Maldonado, Objector-AppellantCourt of Appeals for the Fifth Circuit · 1983
- Schoon v. SmithSupreme Court of Delaware · 2008
37 more not listed; retrieve them via the Exa API.