Recent Merger Ruling Is Good For Massachusetts Directors
William E. Kelly
Eric Walz The Massachusetts Supreme Judicial Court (SJC) recently provided guidance to directors of publicly traded Massachusetts corporations holding that, in determining how to act in the corporation’s best interest, public company directors owe fiduciary duties not to the shareholders (as in Delaware) but to the corporation itself.
In International Brotherhood of Electrical Workers Local No. 129 Benefit Fund v. Tucci et al., and other cases with which it was consolidated, a group of shareholders of EMC Corp. asserted claims...
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