A Look At Corwin Cleansing After Chancery Edgio Ruling

By Kyle Harris, Mark McDonald and Nicholas DiStefano ( May 19, 2023, 5:30 PM EDT) -- The Delaware Chancery Court recently addressed an unsettled question under the state's law: whether a fully informed, uncoerced vote of disinterested stockholders — or cleansing under its pivotal 2015 Corwin v. KKR Financial Holdings LLC ruling[1] — can be applied to defeat claims to enjoin defensive measures under the 1985 Unocal Corp. v. Mesa Petroleum Co. decision in the Delaware Supreme Court....

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