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In the recent Delaware decision of In Re Southern Peru Copper Corporation, Chancellor Strine awarded an eye-popping $1.26 billion in damages against a corporate controlling shareholder and its nominee directors in a related-party merger transaction, because the special committee’s efforts to secure a good deal for minority shareholders were found to be lacking
In the last issue of In Brief, we noted some passages from the Supreme Court of Canada in the BCE case that directors owe a fiduciary duty to the corporation, and only to the corporation
