Swafford v. Berry

How courts have described this case

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

• holding that a fair “transaction must be accompanied by a full and fair disclosure of the material facts to those who are shareholders ... and it must not be attended with unfairness or fraud,” and that directors did not breach their fiduciary duties where they realized no secret profit
• transaction fair where shareholders knew assets of company, cost in “round figures,” and number of shares transferred
• “a shareholder who, with knowledge of the material facts, has consented or acquiesced in the transaction of which he complains ordinarily cannot attack the transaction on behalf of the corporation.”

Source: CourtListener parenthetical corpus (CC0).