Search for: "Marx v. Akers" Results 1 - 8 of 8
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7 Aug 2017, 3:30 am by Peter Mahler
” In Marx v Akers, 88 NY2d 189 [1996], the Court of Appeals held: a complaint challenging the excessiveness of director compensation must—to survive a dismissal motion—allege compensation rates excessive on their face or other facts which call into question whether the compensation was fair to the corporation when approved, the good faith of the directors setting those rates, or that the decision to set the compensation could not have been a product of… [read post]
1 Jul 2019, 4:09 am by Peter Mahler
In the leading New York case, Marx v Akers, 88 NY2d 189 [1996], the Court of Appeals noted criticism of what it called Aronson‘s “reasonable doubt threshold of Delaware’s two-fold approach to demand futility” and formulated its own three-part standard: (1) Demand is excused because of futility when a complaint alleges with particularity that a majority of the board of directors is interested in the challenged transaction. [read post]
13 Aug 2012, 3:00 am by Peter A. Mahler
Eisenberg, 60 AD3d 77 (1st Dept 2009), and the seminal New York case on the subject of the demand requirement, Marx v. [read post]
13 Aug 2012, 3:00 am by Peter A. Mahler
Eisenberg, 60 AD3d 77 (1st Dept 2009), and the seminal New York case on the subject of the demand requirement, Marx v. [read post]
11 Dec 2017, 3:28 am by Peter Mahler
Court of Appeals in Bellwether Community Credit Union v CUSO Development Co., LLC where, under similar circumstances, the court held that the operating agreement’s terms superseded statutory buyout rights upon the minority member’s withdrawal. [read post]