Free Download: Business Strategies Immunity - White Knight in DE

Corporate takeover litigation provided the historical predicate for the business strategies immunity, also sometimes called the "white knight" privilege or business-strategies privilege. The doctrine first arose out of the efforts of target corporations to shield from discovery information pertaining to potential responses to hostile takeover bids, in particular alternative under discussion with friendly third-party bidders, or so-called white knights. The doctrine soon expanded to protect, in the appropriate circumstances, a wide range of time-sensitive information in the takeover context, including certain financial information; strategies, defenses, and alternate transactions under consideration by the target; and even certain counter-defensive measures being considered by the hostile bidder. Although the Delaware case law regarding the business-strategies immunity is nearly all unreported, much in the form of oral rulings from the bench, the basic parameters of the immunity are now well established.

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This excerpt was taken from Corporate and Commercial Practice in the Delaware Court of Chancery (by Michael Pittenger and Donald Wolfe), which has been recognized by Truth on the Market as one of the top ten corporate law works for the practitioner. Subscribers to lexis.com may access the treatise online. Non-subscribers may purchase the treatise from the LexisNexis Store.

Because it is the corporate domicile of choice in the United States, Delaware produces and implements the substantive laws governing internal affairs for most of our nation's corporations - large and small. As a result, most battles concerning the application of those laws are waged in Delaware courts. In Corporate and Commercial Practice in the Delaware Court of Chancery, you'll profit from the singular insight and firsthand experience of two of the court's leading practitioners. You'll quickly find out why the Court of Chancery is to corporate litigation what the Delaware General Corporation Law is to the nation's corporate community. And most important, you'll learn about numerous topics never before explored in such a comprehensive manner.