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Alerts
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Delaware Supreme Court Clarifies Revlon Duties; Reverses Chancery Court Decision in Lyondell Chemical Company v. Ryan
March 27, 2009
On March 25, 2009, the Delaware Supreme Court in Lyondell Chemical Company v. Ryan reversed the decision of the Chancery Court by rejecting shareholder claims that the directors of Lyondell Chemical Company (“Lyondell”) had failed to act in good faith in connection with the sale of Lyondell to Basell AF (“Basell”) and granting summary judgment to the directors.
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