Harbor Finance Partners v. Huizenga

How courts have described this case

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

• holding that the business judgment rule applied to a transaction in which “a majority of [directors] could not disinterestedly or independently evaluate the merger” because fully informed, disinterested, uncoerced stockholders approved it
• stating that “[c]lose familial relationships between directors can create a reasonable doubt as to impartiality”
• involving “long-standing . . . business relations” between a director and the controlling stockholder of an acquired company
• noting how a “fully informed” vote of stockholders approving a transaction warrants dismissing waste claims
• noting how a “fully informed” vote of stockholders approving a transaction warrants dismissing waste claims
• granting inference at pleading stage that reasonable doubt existed as to director’s ability to consider a litigation demand impartially when the proposed defendant was his brother-in-law

Source: CourtListener parenthetical corpus (CC0).