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Expert Analysis

Chancery Court Limits Scope Of Lyondell V. Ryan

Law360, New York (May 12, 2014, 7:26 PM EDT) -- In a summary judgment opinion[1] issued on April 8, the Delaware Court of Chancery (Vice Chancellor J. Travis Laster) held that in a change-of-control case governed by enhanced scrutiny, directors and officers could incur personal liability for a breach of their duty of loyalty if it is established that they acted unreasonably in conducting the sale process and allowed interests other than the pursuit of the best value reasonably available, i.e., an improper motive, to influence their decisions....

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