Recent Merger Ruling Is Good For Massachusetts Directors

Law360, New York (March 17, 2017, 5:44 PM EDT) -- George J. Skelly

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.

Background

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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