LC Capital Master Fund, Ltd. v. James

How courts have described this case

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

• recognizing the view that independent directors who own a “meaningful, long-term common stock stake [is] a useful thing” so as to “align the[ir] interests” with those of common stockholders
• discussing the interplay of contract versus equitable rights of preferred stockholders in the merger context
• “[O]nce the QuadraMed Board honored the special contractual rights of the preferred, it was entitled to favor the interests of the common stockholders.”
• ”[I]t is the duty of directors to pursue the best interests of the corporation and its common stockholders, if that can be done faithfully with the contractual promises owed to the preferred ....”
• “[O]nce the QuadraMed Board honored the special contractual rights of the preferred, it was entitled to favor the interests of the common stockholders.”
• “[O]nce the QuadraMed Board honored the special contractual rights of the preferred, it was entitled to favor the interests of the common stockholders.”

Source: CourtListener parenthetical corpus (CC0).