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Delaware Court of Chancery Explains Basis for Fiduciary Duty Default Standards Applicable to LLCs

Auriga Capital Corp. v. Gatz Properties LLC , C.A. No. 4390-CS (Del. Ch., Jan. 27, 2012), read opinion here . What this Case is About and Why it is Important This case establishes a high-water mark in terms of providing the most comprehensive explanation, based on legislative history and a...

Delaware Court of Chancery Allows Claim for Breach of Fiduciary Duty for Approval of Stock Options in Violation of Stock Option Plan

Pfeiffer v. Leedle, C.A. No. 7831-VCP (Del. Ch. Nov. 8, 2013) [ an enhanced version of this opinion is available to lexis.com subscribers ]. Issue Addressed : Whether the approval of stock option grants that exceeded the maximum number of stock options allowed under the stock incentive plan was the...