The Delaware Supreme Court, in Lenza H. McElrath, III v. Travis Kalanick, et al. and Uber Technologies, Inc., No. 181, 2019, opinion (Del. Jan. 13, 2020), affirmed the Delaware Court of Chancery’s dismissal of shareholder derivative claims challenging an acquisition that exposed acquirer to liability on demand grounds, suggesting that directors “should have done more” to investigate the transaction, but finding a majority disinterested and independent.
NEW: $$$ Law360 discusses the decision in Del. Uber Ruling Reinforces High Bar To Prove Director Bias.
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Wachtell discusses the decision in Core Principles of Exculpation and Director Independence.
Law.com discusses the decision in Uber Board Was Disinterested and Independent to Assess a Pre-Suit Demand for Acquisition of Google Program.
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Legal Newsline discusses the decision in Delaware high court tosses Uber stockholder’s complaint over Ottomotto acquisition.
Shearman & Sterling discusses the decision in Delaware Supreme Court Affirms Dismissal Of Derivative Suit Alleging Board Approved Transaction Involving Unnecessary Litigation Exposure.
Frank Reynolds discusses the decision in Delaware Supreme Court won’t restart Uber investor suit over self-driving car company deal.
The AP’s Randall Chase discusses the decision in Delaware court refuses to revive Uber shareholder lawsuit.