Hibbert v. Hollywood Park, Inc.

MOORE, .. ustice:

This action was filed in the Superior Court by certain former directors of the defendant corporation, Hollywood Park, Inc., (Hollywood), seeking reimbursement of their proxy contest expenses and indemnification for legal fees and related costs incurred with respect to suits filed by them in their unsuccessful bid for re-election to the Hollywood board. The trial judge ruled that the plaintiffs, as the management slate, were entitled to recover their proxy expenses, but they could not be indemnified under Hollywood’s bylaws for funds spent prosecuting lawsuits related to the…