Aronson v. Lewis
Citation
473 A.2d 805 (Del. 1984)
Facts
Stub — to be completed.
Issue
Stub — to be completed.
Holding
Stub — to be completed.
Rule
Demand on the board is excused as futile if the plaintiff alleges particularized facts creating a reasonable doubt that (1) the directors are disinterested and independent, or (2) the challenged transaction was otherwise the product of a valid business judgment.
Significance
Established the Aronson two-part test for demand futility in Delaware derivative suits; foundational for shareholder derivative litigation.