Interested Directors Fail to Meet Entire Fairness Standard

Business Valuation Update BVLaw
Legal and Court Case Update
January 20, 1999

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2951 Asphalt Paving Mixtures and Blocks
324121 Asphalt Paving Mixture and Block Manufacturing
breach of fiduciary duty
asset sale
Boyer v. Wilmington Materials, Inc.
754 A.2d 881, 1999 Del. Ch. LEXIS 4
US
State Court
Delaware
Court of Chancery
Dr. Donald J. Puglisi (for plaintiff) Mr. J. Mark Penny (for defendant)
Lamb

Summary

This issue in this shareholder dispute is whether the defendants' approval of the sale of substantially all of the assets of Wilmington Materials Inc. (WMI) to Delaware Aggregates Inc. (DAI), in which five of the defendants had an interest, met the entire fairness standard applicable to interested transactions.

See Also

Boyer v. Wilmington Materials, Inc.

Full Text of Court Cases
January 20, 1999

At issue is the valuation of the plaintiff's interest in Wilmington Materials, Inc.