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Buzz Archive:
In a Leveraged Buyout With a Controlling Stockholder, Loyal Directors Must Actively Negotiate

by Evelyn Cruz Sroufe, Patrick Simpson, and Naomi Sheffield of Perkins Coie LLP, 11/18/2009

Louisiana Municipal Police Employees' Retirement System v. Fertitta

A recent decision by the Delaware Court of Chancery reinforces the responsibility of a board of directors to assertively defend the interests of the noncontrolling stockholders when negotiating with a controlling stockholder in order to satisfy the board's duty of loyalty.

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