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Corwin v. KKR Financial Holdings LLC
Citation:
125 A.3d 304 (2015)Facts
The Delaware Supreme Court addressed the effect of shareholder approval on a claim that Financial Holdings’ board breached its duty under Revlon in connection with KKR’s acquisition of Financial Holdings. The acquisition was approved by both the independent directors of Financial holding and the company’s stockholders. After the court considered that KKR was not a controlling stockholder so that the acquisition was not subject to review pursuant to the entire fairness standard, plaintiffs contend that he was wrong to dismiss the complaint.
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