Thursday, September 22, 2011

Third Circuit -- In Re: Lemington Home

Given red flags, old-age home's directors not shielded under business judgement rule.

Whether board members benefited personally is a matter for trial - determines whether the adverse interest exception to in pari delicto applies.

In Re: Lemington Home
Compiled by D.E. Frydrychowski, who is, not incidentally, not giving you legal advice.

Category tags above are sporadically maintained Do not rely. Do not rely. Do not rely.

Author's SSRN page here.