Legal Opinion
7547 PARTNERS v. Beck
Supreme Court of Delaware
Decided August 19, 1996No. 432, 1995PublishedCited by 9 opinions
1Opinion of the Court
BERGER, Justice:
In this appeal we consider the statutory requirement that the plaintiff in a derivative suit be a stockholder of the corporation at the time of the challenged transaction. 8 Del.C. § 327. Appellant, 7547 Partners (“Partners”), filed this derivative suit alleging that the directors of Appellee, Boston Chicken, Inc. (“Boston Chicken”), breached their fiduciary duties in authorizing a private placement that accompanied the initial public offering of Boston Chicken common stock (the “IPO”). The Court of Chancery relied on the prospectus issued in connection with the IPO (the…
2Cases cited10 opinions
- In Re Santa Fe Pacific Corp. Shareholder LitigationSupreme Court of Delaware · 1995
- Levitt v. BouvierSupreme Court of Delaware · 1972
- Schreiber v. BryanCourt of Chancery of Delaware · 1978
- Maclary v. Pleasant Hills, Inc.Court of Chancery of Delaware · 1954
- Krinsky v. HelfandSupreme Court of Delaware · 1959
5 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Grosset v. WenaasCalifornia Supreme Court · 2008
- In re Facebook, Inc.District Court, S.D. New York · 2013
- Montgomery, Howard R v. Aetna Plywood, IncCourt of Appeals for the Seventh Circuit · 2000
- Howard R. Montgomery, for Himself and for All Others Similarly Situated, for Themselves and for Aetna Plywood, Inc. Profit Sharing Plan as Successor to Aetna Plywood, Inc., Employee Stock Ownership Plan v. Aetna Plywood, Incorporated, Clinton A. Krislov and Krislov & Associates, Ltd. v. Aetna Plywood, IncorporatedCourt of Appeals for the Seventh Circuit · 2000
- CarrAmerica Realty v. Kaidanow, JosephCourt of Appeals for the D.C. Circuit · 2003
4 more not listed; retrieve them via the Exa API.