Kahn v. Kolberg Kravis Roberts & Co.

STEELE, Chief Justice:

The Appellants in this derivative action, Linda Kahn and Alan Spiegal, who are shareholders of Primedia, Inc., appeal the Court of Chancery’s decision granting the Primedia Special Litigation Committee’s Motion to Dismiss claims arising out of a series of alleged violations of fiduciary duty by defendants, Kohlberg, Kravis, Roberts & Co., Primedia, Inc., and other Primedia officers and directors. Because we do not agree with the Court of Chancery’s interpretation of a Brophy claim as explained in Pfeiffer, we must reverse the Court of Chancery’s judgment of dismissal and…