Corporate Waste
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Standard of review for corporate waste claims
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1 Show/Hide More In Re The Goldman Sachs Group, Inc. Shareholder Litigation Original Creator: Brian JM QuinnWaste and the Waste StandardNotes:
Steiner v. Meyerson, Del. Ch., C.A. No. 13139, Allen, C. (July 18, 1995), Mem. Op. at 2, 1995 WL 441999. As Chancellor Allen observed in Steiner, supra at p. 11:</p> waste theory represents a theoretical exception to the statement very rarely encountered in the world of real transactions. There surely are cases of fraud; of unfair self dealing and, much more rarely negligence. But rarest of all — and indeed like Nessie [of Loch Ness fame], possibly non existent — would be the case of disinterested business people making non fraudulent deals (non-negligently) that meet the legal standard of waste! -
2 Show/Hide More Seinfeld v. Slager Original Creator: Brian JM Quinn1. Executive compensation and waste claims.
2. Do boards face some liability for failure to minimize taxes?
3. Business judgment
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