Schubert Firm Obtains Important Legal Ruling in i2 Technologies Case

In upholding plaintiff’s shareholder derivative complaint against a former i2 Technologies, Inc. (ITWO) officer, Delaware Chancellor William Chandler ruled that plaintiff had adequately alleged that the Board’s negligence in approving the sale of a subsidiary to the officer demonstrated that its actions were not a valid exercise of its business judgment. The Chancellor then held that officers owe their corporations identical fiduciary duties as do directors.

»  Read the full opinion, McPadden v. Sidhu, 964 A.2d 1262 (Del. Ch. 2008).

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