The Delaware Court of Chancery, in Bay Capital Finance, LLC v. Barnes & Noble Education, Inc., et al., C.A. No. 2019-0539-KSJM, memo. op. (Del. Ch. Mar. 30, 2020), granted defendants’ motion for summary judgment that a chairman did not breach fiduciary duties by refusing a non-compliant notice of the nomination of an incumbent slate of board members where evidence showed the full board rejected the notice.
NEW: K&L Gates discusses the decision in Stockholder’s Breach of Fiduciary Duty Claim Against Chairman of Barnes & Noble Education, Inc. Dismissed By Delaware Court of Chancery.
Morris James discusses the decision in Chancery Shifts Attorneys’ Fees Under Bad-Faith Exception Based on False Statements in Plaintiff’s Complaint and Obstruction of Discovery.
$$$ Law360 discusses the decision in Bay Capital Used ‘Bold-Faced Lie’ In B&N Suit, Chancery Says.