The Deal’s Jean Haggerty recently spoke with Elsberg Baker & Maruri partner Rollo Baker on a recent decision by the Delaware Court of Chancery’s ruling on a director election “do over.”
“The folks in Nevada and Texas that are vying for Delaware’s business may try to seize upon it and say that this [decision] is an example of the [Delaware Chancery] court exercising equity in an unpredictable way,” Baker said. "On the other hand, others would say this is a good example of the Delaware Chancery Court applying equity in a common-sense way to avoid an inequitable result — otherwise the defendants would have benefited from what the court found to be fiduciary breaches,” he added.
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