Legal Opinion
Solomon v. Armstrong
Court of Chancery of Delaware
Decided March 25, 1999No. Civil Action 13515PublishedCited by 101 opinions
1Opinion of the Court
OPINION
CHANDLER, Chancellor.
TABLE OF CONTENTS
I. BACKGROUND.1106
II. PARTIES’CONTENTIONS .1109
A. Plaintiff’s Claims.1109
B. DEFENDANTS’ MOTION TO DISMISS .1110
C. Motion to Dismiss StandaRD.1110
III. LAW OF THE DEAL: FIDUCIARY DUTY ISSUES. 1111
A. The Business Judgment Rule.1111
B. Heightened SCRUTINY.1112
C. ENTIRE Fairness.1112
D. Shareholder Ratifioation.1113
1. Void Acts.1114
2. Voidable Acts .1114
3. The Duty of Loyalty and Ratification ■.'..1114
IV. APPLICATION OF THE LAW .1117
A. GM’s Actions and the Business Judgment Rule .1117
B. Transaction Structure Challenge to the Business Judgment Rule.1120
1.…
2Cases cited47 opinions
- Weinberger v. UOP, Inc.Supreme Court of Delaware · 1983
- Cede & Co. v. Technicolor, Inc.Supreme Court of Delaware · 1994
- Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc.Supreme Court of Delaware · 1986
- Smith v. Van GorkomSupreme Court of Delaware · 1985
- In Re Santa Fe Pacific Corp. Shareholder LitigationSupreme Court of Delaware · 1995
42 more not listed; retrieve them via the Exa API.
3Cited by101 opinions
- In Re General Motors (Hughes) Shareholder LitigationSupreme Court of Delaware · 2006
- Salamone v. GormanSupreme Court of Delaware · 2014
- H-M Wexford LLC v. Encorp, Inc.Court of Chancery of Delaware · 2003
- Gantler v. StephensSupreme Court of Delaware · 2009
- In Re Walt Disney Co. Derivative LitigationCourt of Chancery of Delaware · 2005
96 more not listed; retrieve them via the Exa API.