
Which of the following was the result in the Quickturn Design Sys.,Inc.v.Shapiro case,which involved a Delaware court's ruling on the "no-hand pill"?
A) As a matter of law the pill was valid as a response to a takeover bid regardless of whether independent proof existed that the directors acted reasonably.
B) The pill was valid because the directors established, based upon reliable expert testimony, that the hostile takeover bid presented a dangerous threat to the continuation of the company.
C) The pill, which had to be redeemed within one month of a takeover bid or else be allowed to remain in place, was invalid because it impermissibly circumscribed the board's statutory power to manage the business affairs of the company and the directors' ability to fulfill their fiduciary duties.
D) The pill, which could not be redeemed for six months following a takeover, was invalid because it impermissibly circumscribed the board's statutory power to manage the business affairs of the company and the directors' ability to fulfill their fiduciary duties.
Correct Answer:
Verified
Q25: In the context of takeovers,board members cannot
Q26: In the context of executive compensation,_ stock
Q28: Which of the following is true in
Q31: Which of the following is true regarding
Q36: The Smith v.Van Gorkam decision underscores which
Q42: In a _,someone wishing to replace the
Q43: _ occurs when a raider acquires stock
Q44: Fact Pattern 20-1
Tonya is the president of
Q45: A _ is an agreement in a
Q57: A contractual provision insisted upon by a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents