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Business Organizations Keyed to Cox
Sciabacucchi v. Liberty Broadband Corp.
Citation:
2017 WL 2352152 (2017)Facts
As a step in acquiring Time Warner Cable and Bright House Networks, Charter Communications entered into two contracts – one involving the issuance of shares and another granting a proxy – to its largest stockholders, Liberty Broadband. Charter conditioned the two acquisitions on the disinterested shareholders approving the share issuance and proxy transactions. Following shareholder approval, Sciabacucchi initiated a shareholders’ suit challenging the share issuance and proxy alleging they were unfair to Charter and the product of a breach of fiduciary duty by its director and largest stockholder.
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Topic:
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