Pleading Bad Faith Against Special Committee Members: A New Trend?
Cooley M&A
OCTOBER 12, 2021
Special committees, by design, are created to address conflicts and to insulate the board of directors from liability for the very conflicts that may invite judicial scrutiny of the fairness of the board’s decision. A well-functioning special committee will also mitigate the risk of personal liability for a company’s fiduciaries, reducing the likelihood of protracted post-closing litigation.
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