Lyondell Chemical Co. v. Ryan
Citation
970 A.2d 235 (Del. 2009)
Facts
Stub — to be completed.
Issue
Stub — to be completed.
Holding
Stub — to be completed.
Rule
Directors are not required to show that they took every possible step to maximize value; Revlon does not require directors to act immediately upon learning a sale is possible. Bad faith requires intentional dereliction of duty.
Significance
Clarified that Revlon duties require reasonable efforts, not perfection; “bad faith” sets a high bar requiring conscious disregard of duty.