Exact(3)
The Second Circuit sidestepped this question, leaving district courts' approval of this theory intact, at least for now, while the government pursues investigations under FIRREA against other financial institutions in the mortgage industry and elsewhere.
In a statement, the departing directors said: "With the courts' approval yesterday of Michael Capellas as WorldCom's new chairman and C.E.O., it is now appropriate for each of us to stand down as directors and give him the opportunity to continue the process we have started to put in place substantive reforms and best governance practices".
To avoid the fiasco of a public proxy dispute, and despite the Delaware courts' approval of anti-activist poison pills in Third Point, companies often settle with activists behind the scenes, for example, by allowing the activist to appoint individuals of its choosing to the company's board.
Similar(57)
It requires court approval.
The settlement needs court approval.
The settlement awaits court approval.
The merger requires court approval.
The plan won court approval.
The settlement is subject to court approval.
The sale requires court approval.
The settlement requires court approval.
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