Putting the plaintiff and defendant on even ground: defining standards of settlement review and the statute of limitations in shareholder actions

Article Abstract:

The Delaware Chancery Court is applying the notion of fairness in shareholder actions differently when evaluating settlements and determining the applicability of the statute of limitations. Settlements where many involved shareholders were not part of the negotiations have been subject to strict fairness evaluations. However, the Court has not enforced the statute of limitations even when plaintiffs knew of self-dealing but did not press the suit until the self-dealing became obvious to everyone, with the statute coming into effect upon initial discovery.

Stockholder Suits, Case Note, Limitation of actions, Statute of limitations, Delaware

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Defeating poison pills though enactment of a state shareholder protection statute

Article Abstract:

The author suggests that it might be possible for a state to enact a shareholder protection statute capable of disabling all poison pills, i.e. shareholder rights agreements, irrespective of the target corporation's state of incorporation. An overview of shareholder rights agreements is included.

States, Corporate anti-takeover measures, Antitakeover strategies

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May a shareholder who objects to a proposed settlement of a derivative action appeal an adverse decision? A report on California Public Employees' Retirement System v. Felzen

Article Abstract:

The effect of California Public Employees' Retirement System v. Felzen on the ability of a shareholder objecting to the proposed settlement of a derivative action to file an appeal is discussed. The Central District of Illinois issued the ruling in 1996.

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