Del. Dispatch: Clarification On Fiduciary Duties Of Controllers

By Gail Weinstein, Philip Richter and Steven Steinman (February 8, 2024, 10:11 AM EST) -- On Jan. 24, the Delaware Court of Chancery issued an important post-trial opinion in In re: Sears Hometown and Outlet Stores Stockholder Litigation that clearly set forth for the first time the fiduciary duties and standard of review applicable when a controller uses stockholder-level voting power to block actions the company's board has determined to be in the company's best interest....

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