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The current economic distress has put immense pressure on corporate boards of directors to consider and address the financial and operational challenges faced by their companies
In the first quarter of this year, the Delaware Court of Chancery issued a decision that should cause directors to consider carefully whether they have done enough to canvass the market of potential acquirers when their company is up for sale or, in other words, whether they have effectively discharged their Revlon duties
Last month, the Dow Chemical Company fired two senior executives accused of purportedly engaging in unauthorized discussions with third parties concerning a potential takeover bid for the company
