Arkansas Teacher Ret. Sys. v. Caiafa
Arkansas Teacher Ret. Sys. v. Caiafa, 530, 2009
In an objection to the Vice Chancellor’s approval of a settlement among a majority of Countrywide stockholders, Countrywide directors, and Bank of America (BOA), related to Countrywide’s merger with BOA, denial of the objection is affirmed where the Vice Chancellor did not abuse his discretion by holding that objector’s derivative suit claims for breach of asserted duties were worthless and, therefore, added no conceivable value to the merger.
- Decided 05/24/2010
- Published 05/24/2010
- Supreme Court of Delaware