Delaware Court of Chancery Exempts PBC Directors from Revlon Duties
A recent opinion by the Delaware Court of Chancery addresses, for the first time, whether Revlon's best-price mandate applies to public benefit corporation (PBC) directors, who are statutorily required to balance stockholder pecuniary interests with the interests of affected constituencies and the corporation’s stated public benefit.
Delaware Court of Chancery Exempts PBC Directors from Revlon Duties
A recent opinion by the Delaware Court of Chancery addresses, for the first time, whether Revlon's best-price mandate applies to public benefit corporation (PBC) directors, who are statutorily required to balance stockholder pecuniary interests with the interests of affected constituencies and the corporation’s stated public benefit.