Is applying the business judgment rule to allow disinterested, independent directors to terminate derivative litigation?
MultiRegion, United States of America
The following excerpt is from Abramowitz v. Posner, 672 F.2d 1025 (2nd Cir. 1982):
In short, "(w)e see no threat to the purity of the securities market" in applying the business judgment rule to allow disinterested, independent directors to terminate derivative litigation. Lewis v. Anderson, 615 F.2d at 783-84.
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