CEO On The Hook For Stockholder Damages For Role In Fast-Tracked Merger Deal

Mealey's ( March 21, 2023, 4:30 PM EDT) -- WILMINGTON, Del. — A Delaware Chancery Court chancellor found that a company’s founder and CEO breached his fiduciary duty to the company’s stockholders when he fast-tracked a merger deal with a private equity firm because the company’s former stockholders have sufficiently pleaded that the CEO did not pursue a deal that was in the stockholders’ best interest and instead tilted the process in favor of the firm....

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