International Ass'n of Machinists v. Friedman

How courts have described this case

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

• indicating that “the duty of due care requires that a director’s decision be made on the basis of ‘reasonable diligence’ in gathering and considering material information”
• finding that directors failed to look beyond options supported by self-interested management
• “[A] prima facie showing of lack of due care is distinct from a prima facie showing of corporate waste, which may constitute a cause of action against directors separate and distinct from breach of the duty of loyalty or due care.”
• “[A] presumption of propriety inures to the benefit of directors.”

Source: CourtListener parenthetical corpus (CC0).