Defusing the “[N]uclear [W]eapon of [C]orporate [G]overnance”: Chancery Court Enjoins “Extreme, Unprecedented” Poison Pill Adopted to Defend Against Hypothetical Stockholder Activism
Robert S. Reder & Lisa Orucevic | 75 Vand. L. Rev. En Banc 109 (2022) |
Chancery Court confirms that boards must justify adoption of an “extreme” form of stockholder rights plan based on actual threats perceived at the time of adoption, not on the possibility of “hypothetical future threats.”
AUTHORS:
Robert S. Reder
Lisa Orucevic