Company Control Not Just About Share Count, Chancery Says

Law360, New York (May 17, 2013, 7:41 PM EDT) -- Vice Chancellor J. Travis Laster laid out a broad definition of “controlling party” this week, emphasizing that it's not stock ownership, but the rights that come with it, that raise red flags and warrant a higher standard of judicial scrutiny in transactions.

The ruling is the latest to weigh on what has long been a muddy corner — the vice chancellor called it an “ambiguous netherworld” — of Delaware law: exactly when one party exercises enough sway over another to raise serious questions about a transaction...
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