Grimes v. Alteon, Inc.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that “to the extent such transactions obligate the board concerning stock issuance, the board must approve them in writing”
• explaining the DGCL affords corporations “the freedom to enter into new and different forms of transactions”
• directors must fix consideration for sales of stock and approve the sale
• “To ensure certainty, [8 Del. C. §§ 151, 152, 153, 157, 161 and 166] contemplate board approval and a written instrument evidencing the relevant transactions affecting issuance of stock and the corporation’s capital structure.”
• “The requirement of board approval for the issuance of stock is not limited to the act of transferring the shares of stock to the would-be stockholder, but includes an antecedent transaction that purports to bind the corporation to do so.”

Source: CourtListener parenthetical corpus (CC0).

Cited by

24 cases in this archive cite this case; the 20 most cited are listed.

• Carsanaro v. Bloodhound Technologies, Inc.
  Court of Chancery of Delaware· 2013-03-15· cited 91×
• Shawe v. Elting
  Supreme Court of Delaware· 2017-02-13· cited 53×
• The First Marblehead Corp. v. Gregory House
  First Circuit· 2006-12-22· cited 38×
• Applebaum v. Avaya, Inc.
  Supreme Court of Delaware· 2002-11-20· cited 28×
• Mariasch v. Gillette Co.
  First Circuit· 2008-03-27· cited 23×
• Esopus Creek Value LP v. Hauf
  Court of Chancery of Delaware· 2006-11-29· cited 10×
• Anderson v. Dobson
  W.D. North Carolina· 2007-08-24· cited 10×
• Liebermann v. Frangiosa
  Court of Chancery of Delaware· 2002-12-04· cited 8×
• Patriot Scientific Corp. v. Korodi
  S.D. California· 2007-05-25· cited 8×
• Finnegan v. Baker
  Massachusetts Appeals Court· 2015-08-14· cited 2×
• Mancinelli v. Momentum Research, Inc.
  North Carolina Business Court· 2012-05-17· cited 1×
• FLEETBOSTON FINANCIAL CORP. v. Alt
  D. Massachusetts· 2009-12-01
• First Marblehead Corp. v. House
  D. Massachusetts· 2005-11-18
• In re Genelux Corporation
  Court of Chancery of Delaware· 2015-10-22
• Knoll Capital Management L.P. v. Advaxis, Inc.
  Court of Chancery of Delaware· 2016-01-29
• CertiSign Holding, Inc. v. Kulikovsky
  Court of Chancery of Delaware· 2018-06-07
• DNREC v. McGinnis Auto & Mobile Home Salvage, LLC
  Supreme Court of Delaware· 2020-02-20
• Salzberg v. Sciabacucchi
  Supreme Court of Delaware· 2020-03-18
• Salzberg v. Sciabacucchi
  Supreme Court of Delaware· 2020-04-14
• Wiedmaier v. Opentable, Inc.
  District of Columbia· 2020-06-01

Cites

9 cases in this archive are cited by this case.

• Smith v. Van Gorkom
  Supreme Court of Delaware· 1985-03-14· cited 428×
• Unocal Corp. v. Mesa Petroleum Co.
  Supreme Court of Delaware· 1985-06-10· cited 322×
• Moran v. Household International, Inc.
  Supreme Court of Delaware· 1985-11-20· cited 170×
• Staar Surgical Co. v. Waggoner
  Supreme Court of Delaware· 1991-04-08· cited 65×
• Rothschild International Corp. v. Liggett Group Inc.
  Supreme Court of Delaware· 1984-03-20· cited 52×
• Michelson v. Duncan
  Court of Chancery of Delaware· 1978-02-15· cited 21×
• Kalageorgi v. Victor Kamkin, Inc.
  Court of Chancery of Delaware· 1999-09-10· cited 14×
• Wall v. Utah Copper Co.
  New Jersey Court of Chancery· 1905-10-02· cited 12×
• United States Fidelity & Guaranty Co. v. Neighbors
  Supreme Court of Delaware· 1980-09-08· cited 8×