Vice Chancellor Dismisses Shareholder Claim against CEO for Alleged Compensation Conflict in $18B Merger

(CN) – The Delaware Chancery Court dismissed a class action in its entirety after shareholders failed to state a claim for breach of fiduciary duty in challenging an $18 billion merger between Tower Watson & Co. and Willis Group Holdings PLC because of a potential conflict in the compensation of Tower’s CEO.

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Tesla, Elon Musk Cannot Dismiss Shareholder Claims Over SolarCity Acquisition

The Delaware Chancery Court refused to dismiss shareholder claims stemming from Tesla’s controversial acquisition of SolarCity, finding it conceivable that CEO Elon Musk, a controlling stockholder of both companies, unduly influenced the board’s decision.

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