Legal Opinion
Ernesto Espinoza v. Mark Zuckerberg
Court of Chancery of Delaware
Decided October 28, 2015No. CA 9745-CBPublishedCited by 33 opinions
1Opinion of the Court
OPINION
BOUCHARD, C.
This case presents a question of first impression: Can a disinterested controlling stockholder ratify a transaction approved by an interested board of directors, so as to shift the standard of review from entire fairness to the business judgment presumption, by expressing assent to the transaction informally without using one of the methods the Delaware General Corporation Law prescribes to take stockholder action? In my opinion, the answer to this question is no. • Stated in the affirmative, I conclude for the reasons explained below that stockholder ratification of a…
2Cases cited30 opinions
- Central Mortgage Co. v. Morgan Stanley Mortgage Capital Holdings LLCSupreme Court of Delaware · 2011
- Rales v. Blasband Ex Rel. Easco Hand Tools, Inc.Supreme Court of Delaware · 1993
- Nemec v. ShraderSupreme Court of Delaware · 2010
- Cede & Co. v. Technicolor, Inc.Supreme Court of Delaware · 1994
- In Re Citigroup Inc. Shareholder Derivative LitigationCourt of Chancery of Delaware · 2009
25 more not listed; retrieve them via the Exa API.
3Cited by33 opinions
- In Re Volcano Corporation Stockholder LitigationCourt of Chancery of Delaware · 2016
- In re The Home Depot, Inc. Shareholder Derivative LitigationDistrict Court, N.D. Georgia · 2016
- Acero Capital, L.P. v. Swrve Mobile, Inc.Court of Chancery of Delaware · 2021
- Amalfitano v. CocolinSuperior Court of Delaware · 2017
- Anurag Mehta v. Mobile Posse, Inc.Court of Chancery of Delaware · 2019
28 more not listed; retrieve them via the Exa API.