Legal Opinion
In Re HealthSouth Corp. Shareholders Litigation
Court of Chancery of Delaware
Decided November 24, 2003No. Civ. A. 19896PublishedCited by 29 opinions
1Opinion of the Court
OPINION
STRINE, Vice Chancellor.
In this opinion, I address a motion for summary judgment in this derivative action filed by stockholders of HealthSouth, Inc. The plaintiffs’ motion seeks relief for a transaction in which defendant Richard M. Scrushy, HealthSouth’s former Chairman and Chief Executive Officer, extinguished a loan of over $25 million that he owed to the company. In that transaction, Scrushy gave the company shares valued in the stock market at the dollar amount of the principal balance then needed to pay off the loan in full. The premise of the transaction, suggested, understood…
2Cases cited10 opinions
- Celotex Corp. v. Catrett, Administratrix of the Estate of CatrettSupreme Court of the United States · 1986
- Stephenson v. Capano Development, Inc.Supreme Court of Delaware · 1983
- Zirn v. VLI Corp.Supreme Court of Delaware · 1996
- Schock v. NashSupreme Court of Delaware · 1999
- Goldin v. Primavera Familienstiftung, Tag Associates, Ltd. (In Re Granite Partners, L.P.)United States Bankruptcy Court, S.D. New York · 1996
5 more not listed; retrieve them via the Exa API.
3Cited by29 opinions
- American International Group, Inc. v. GreenbergCourt of Chancery of Delaware · 2009
- Carlson v. HallinanCourt of Chancery of Delaware · 2006
- The Honorable Karen Weldin Stewart, CIR-ML, Insurance Commissioner v. Wilmington Trust SP Services, Inc.Court of Chancery of Delaware · 2015
- American International Group, Consol. Deriv. Lit.Court of Chancery of Delaware · 2009
- Scrushy v. TuckerSupreme Court of Alabama · 2006
24 more not listed; retrieve them via the Exa API.