Delaware’s PLX Decision Reminds Corporate Boards of Perils of Navigating Activist Campaign

A recent decision of the Delaware Court of Chancery highlights the need for boards of directors of Delaware publicly traded companies to develop heightened awareness and vigilance in responding to shareholder activists, particularly those following a short-term agenda of putting the company up for sale. The failure of boards to do so may put all directors at risk of being found in breach of their fiduciary duties.

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This article originally appeared in The CLS Blue Sky Blog - Columbia Law School's Blog on Corporations and The Capital Markets. Eduardo Gallardo is on the advisory board and a regular contributor.