In Calma v. Templeton, C.A. No. 9579-CB (Del. Ch. April 30, 2015), the Delaware Court of Chancery denied the motion to dismiss filed by Citrix Systems, Inc. (Citrix) and its directors in a derivative suit brought by shareholders.
Director Compensation Subject to Entire Fairness Standard
The Delaware Court of Chancery recently denied the motion to dismiss filed by Citrix Systems, Inc. and its directors in a derivative suit brought by shareholders. In a challenge to the business judgment rule, the plaintiffs were allowed to proceed with their breach of fiduciary duty claim, and the court noted that the awards were subject to review under the "entire fairness" standard.
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David Joffe And Marc BussoneThis premium content is locked for LawJournalNewsletters subscribers only
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