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Moran V Household International Inc
''Moran v. Household International, Inc.'', 500 A.2d 1346 (Del. 1985) is a decision of the Delaware Supreme Court that upheld a shareholder rights plan (also known as a "poison pill") as a legitimate exercise of Business judgment rule, business judgment by Household International's board of directors. ''Moran'' is significant as the first case in which a U.S. state court upheld a shareholder rights plan.L. Bebchuk and A. Ferrell, Symposium: Federalism and Corporate Law: The Race to Protect Managers from Takeovers, 99 Colum. L. Rev. 1168 (1999) at 1179. Background Facts Household International, Inc. was a diversified holding company with subsidiaries in the financial services, transportation, and merchandising industries. National Car Rental and Vons Grocery were among its wholly owned entities.500 A.2d at 1349. The board of Household International voted in August, 1984 to adopt a shareholder rights plan. This plan was adopted before the board was faced with any specific takeover ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supreme Court Of Delaware
The Delaware Supreme Court is the sole appellate court in the United States state of Delaware. Because Delaware is a popular haven for corporations, the Court has developed a worldwide reputation as a respected source of corporate law decisions, particularly in the area of mergers and acquisitions.Thomas Lee Hazen and Jerry W. Markham, ''Corporations and Other Business Enterprises'' (2003) Jurisdiction The Supreme Court has appellate jurisdiction over direct appeals from the Superior Court, Family Court, and Court of Chancery. Because it is the only appellate court in the state, its jurisdiction over appeals from final orders is mandatory. However, it has discretionary jurisdiction over appeals from interlocutory orders. The Court has original jurisdiction over writs of mandamus, prohibition, and certiorari. In addition, the Court regulates and has exclusive jurisdiction over matters concerning the admission and discipline of lawyers, the Lawyers' Fund for Client Protection ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |