Legal Opinion
Grimes v. Donald
Supreme Court of Delaware
Decided April 11, 1996No. 791995PublishedCited by 214 opinions
1Opinion of the Court
VEASEY, Chief Justice:
In this appeal we address the following issues: (1) the distinction between a direct claim of a stockholder and a derivative claim; (2) a direct claim of alleged abdication by a board of directors of its statutory duty; (3) when a pre-suit demand in a derivative suit is required or excused; and (4) the consequences of demand by a stockholder and the refusal by the board to act on such a demand.
We hold that the Court of Chancery correctly dismissed this stockholder action for the failure to state a claim upon which relief can be granted where the plaintiff stockholder:…
2Cases cited36 opinions
- J. I. Case Co. v. BorakSupreme Court of the United States · 1964
- Kamen v. Kemper Financial Services, Inc.Supreme Court of the United States · 1991
- Aronson v. LewisSupreme Court of Delaware · 1984
- Rales v. Blasband Ex Rel. Easco Hand Tools, Inc.Supreme Court of Delaware · 1993
- Zapata Corp. v. MaldonadoSupreme Court of Delaware · 1981
31 more not listed; retrieve them via the Exa API.
3Cited by214 opinions
- Brehm v. EisnerSupreme Court of Delaware · 2000
- Tooley v. Donaldson, Lufkin, & Jenrette, Inc.Supreme Court of Delaware · 2004
- Beam Ex Rel. M. Stewart Living v. StewartSupreme Court of Delaware · 2004
- In Re Citigroup Inc. Shareholder Derivative LitigationCourt of Chancery of Delaware · 2009
- Malone v. BrincatSupreme Court of Delaware · 1998
209 more not listed; retrieve them via the Exa API.