In Re Sunstates Corp. Shareholder Litigation

How courts have described this case

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

• noting that “to pierce the corporate veil based on an agency or ‘alter ego’ theory, ‘the corporation must be a sham and exist for no other purpose than as a vehicle for fraud’” (quoting Wallace, 752 A.2d at 1184)
• finding “no basis” to pierce the corporate veil where “entities [were] engaged in substantial business operations”
• declining to apply implied covenant in context of preferred stock agreement

Source: CourtListener parenthetical corpus (CC0).