Zirn v. VLI Corp.

How courts have described this case

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

• recognizing that “soft information,” such as asset valuations or income and cash-flow projections, must be disclosed only when its reliability and materiality outweigh the potential for shareholder confusion
• holding that the directors were shielded from liability by the Section 102(b)(7
• holding that directors were exculpated from liability under Section 102(b)(7) of the DGCL for breach of fiduciary duty arising from allegedly misleading disclosures where the disclosures “were made in good faith”
• holding that breach of care claim is barred with § 102(b)(7) waiver provision
• observing that the goal of disclosure is “to provide a balanced and truthful account of those matters which are discussed in a corporation’s disclosure materials.”
• finding that Section 102(b)(7) shielded directors from liability for disclosure violations that resulted from good faith errors

Source: CourtListener parenthetical corpus (CC0).

Cited by

109 cases in this archive cite this case; the 20 most cited are listed.

• Emerald Partners v. Berlin
  Supreme Court of Delaware· 1999-03-16· cited 343×
• Foremost Ins. Co. v. Parham
  Supreme Court of Alabama· 1997-03-14· cited 279×
• Malone v. Brincat
  Supreme Court of Delaware· 1998-12-18· cited 273×
• In Re Walt Disney Co. Derivative Litigation
  Court of Chancery of Delaware· 2005-08-09· cited 206×
• RBC Capital Markets, LLC v. Jervis
  Supreme Court of Delaware· 2015-11-30· cited 202×
• Torch Liquidating Trust Ex Rel. Bridge Associates L.L.C. v. Stockstill
  Fifth Circuit· 2009-03-18· cited 163×
• Emerald Partners v. Berlin
  Supreme Court of Delaware· 2001-11-28· cited 149×
• Crescent/Mach I Partners, L.P. v. Turner
  Court of Chancery of Delaware· 2000-09-29· cited 144×
• McMullin v. Beran
  Supreme Court of Delaware· 2000-11-20· cited 135×
• In re Orchard Enterprises, Inc.
  Court of Chancery of Delaware· 2014-02-28· cited 127×
• Solomon v. Armstrong
  Court of Chancery of Delaware· 1999-03-25· cited 109×
• In Re Abbott Laboratories Derivative Shareholders Litigation
  Seventh Circuit· 2003-05-27· cited 102×
• Chen v. Howard-Anderson
  Court of Chancery of Delaware· 2014-04-08· cited 99×
• Pfeffer v. Redstone
  Supreme Court of Delaware· 2009-01-23· cited 94×
• In re Wayport, Inc. Litigation
  Court of Chancery of Delaware· 2013-05-01· cited 93×
• Hoskins v. State
  Supreme Court of Delaware· 2014-09-22· cited 89×
• Cede & Co. v. Technicolor, Inc.
  Supreme Court of Delaware· 2005-06-28· cited 83×
• In Re General Motors Class H Shareholders Litigation
  Court of Chancery of Delaware· 1999-03-22· cited 79×
• In Re the Walt Disney Co. Derivative Litigation
  Court of Chancery of Delaware· 1998-10-07· cited 76×
• Gannett Co., Inc. v. Kanaga
  Supreme Court of Delaware· 2000-05-03· cited 71×

Cites

27 cases in this archive are cited by this case; the 20 most cited are listed.

• TSC Industries, Inc. v. Northway, Inc.
  Supreme Court· 1976-06-14· cited 2,447×
• Weinberger v. UOP, Inc.
  Supreme Court of Delaware· 1983-02-01· cited 690×
• Smith v. Van Gorkom
  Supreme Court of Delaware· 1985-03-14· cited 428×
• Rosenblatt v. Getty Oil Co.
  Supreme Court of Delaware· 1985-05-09· cited 268×
• Levitt v. Bouvier
  Supreme Court of Delaware· 1972-01-04· cited 265×
• Stephenson v. Capano Development, Inc.
  Supreme Court of Delaware· 1983-05-24· cited 254×
• Arnold v. Society for Savings Bancorp, Inc.
  Supreme Court of Delaware· 1994-12-28· cited 251×
• Stroud v. Grace
  Supreme Court of Delaware· 1992-04-09· cited 246×
• Gilbert v. El Paso Co.
  Supreme Court of Delaware· 1990-05-16· cited 144×
• Blasius Industries, Inc. v. Atlas Corp.
  Court of Chancery of Delaware· 1988-07-25· cited 125×
• Bershad v. Curtiss-Wright Corp.
  Supreme Court of Delaware· 1987-12-30· cited 125×
• Gaffin v. Teledyne, Inc.
  Supreme Court of Delaware· 1992-08-26· cited 124×
• Arnold v. Society for Sayings Bancorp, Inc.
  Supreme Court of Delaware· 1996-06-25· cited 121×
• Tackett v. State Farm Fire & Casualty Insurance Co.
  Supreme Court of Delaware· 1995-02-10· cited 115×
• Lynch v. Vickers Energy Corp.
  Supreme Court of Delaware· 1977-10-18· cited 94×
• Zirn v. VLI Corp.
  Supreme Court of Delaware· 1993-03-08· cited 78×
• Johnny Mack Westbrook v. Walter D. Zant, Warden, Georgia Diagnostic and Classification Center
  Eleventh Circuit· 1984-09-21· cited 72×
• Sealy Mattress Co. of New Jersey v. Sealy, Inc.
  Court of Chancery of Delaware· 1987-07-24· cited 62×
• Weinberger v. Rio Grande Industries, Inc.
  Court of Chancery of Delaware· 1986-10-22· cited 55×
• Frank G.W. v. Carol M.W.
  Supreme Court of Delaware· 1983-02-10· cited 44×

Other cases named Zirn v. VLI Corp.

1 other CourtListener record shares this case name.

• Zirn v. VLI Corp.
  Supreme Court of Delaware· 1993-03-08· cited 78×