Legal Opinion
Nemec v. Shrader
Supreme Court of Delaware
Decided April 6, 2010No. 305, 2009, 309, 2009PublishedCited by 596 opinions
1Opinion of the Court
STEELE, Chief Justice,
HOLLAND and RIDGELY, Justices for the Majority.
Booz Allen (“the Company”) redeemed Joseph Nemec’s and Gerd Wittkemper’s stock after their post-retirement put rights expired, but before selling its government business division. Nemec and Wittkemper asserted, and the Chancellor dismissed, claims that the board breached the Company’s Stock Plan’s implied covenant of good faith and fair dealing, and its fiduciary duty; and unjustly enriched itself. Because the board exercised an express contractual right, we AFFIRM the judgment of the Court of Chancery.
FACTUAL AND PROCEDURAL…
2Cases cited17 opinions
- Aronson v. LewisSupreme Court of Delaware · 1984
- VLIW TECHNOLOGY, LLC v. Hewlett-Packard Co.Supreme Court of Delaware · 2003
- In Re General Motors (Hughes) Shareholder LitigationSupreme Court of Delaware · 2006
- Kuroda v. SPJS Holdings, L.L.C.Court of Chancery of Delaware · 2009
- Dunlap v. State Farm Fire & Casualty Co.Supreme Court of Delaware · 2005
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3Cited by596 opinions
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