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Smith v. Van Gorkom : ウィキペディア英語版 | Smith v. Van Gorkom
''Smith v. Van Gorkom'' 488 A.2d 858 (Del. 1985) is an important Delaware Supreme Court decision, primarily because of its discussion of a director's duty of care. It is often called the "Trans Union case". ==Facts== The case involved a proposed leveraged buy-out merger of TransUnion by Marmon Group which was controlled by Jay Pritzker.〔Ribstein, L. E., & Letsou, P. V. (2003). Business associations. Analysis and skills series. (York, N.Y. ): M. Bender.〕 Defendant Jerome W. Van Gorkom, who was the TransUnion's chairman and CEO, chose a proposed price of $55 without consultation with outside financial experts. He only consulted with the company's CFO, and that consultation was to determine a per share price that would work for a leveraged buyout.〔 Van Gorkom and the CFO did not determine an actual total value of the company.〔 The court was highly critical of this decision, writing that "the record is devoid of any competent evidence that $55 represented the per share intrinsic value of the Company." The proposed merger was subject to Board approval. At the Board meeting, a number of items were not disclosed, including the problematic methodology that Van Gorkom used to arrive at the proposed price. Also, previous objections by management were not discussed. The Board approved the proposal.
抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)』 ■ウィキペディアで「Smith v. Van Gorkom」の詳細全文を読む
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