The court in the Cohen v. Mirage Resorts, Inc case stated:
a. a claim brought by a dissenting shareholder that questions the validity of a merger as a result of wrongful conduct on the part of majority shareholders or directors is properly a derivative suit.
b. a shareholder who opposes a merger must either accept the terms of the merger and exchange their shares for new shares or dissent from the merger and forfeit their stock.
c. minority shareholders may challenge the merger process if it is procedurally deficient or if fraud affected the shareholder vote on the merger.
d. minority shareholders have no right to sue to enjoin or rescind an invalid merger, but must be satisfied with money damages.
c
You might also like to view...
If sales are $400,000, variable costs are 80% of sales, and operating income is $40,000, what is the operating leverage?
A) 0 B) 7.500 C) 2.0 D) 1.333
Which of the following is an internal event for a business entity?
A) An attorney provides services for clients. B) An attorney purchases computer equipment. C) An attorney recorded depreciation on his computer equipment. D) An attorney receives cash payments from clients who were billed for legal services.
Triangle Associates is contemplating making a large charitable contribution. If their tax rate is 40%, what is the after-tax cost of making a $150,000 contribution?
A) $210,000 B) $ 60,000 C) $150,000 D) $ 90,000
Which of the following is an effective way for persuasive writers and speakers to establish credibility with an audience?
A) Establish their expertise. B) Offer counterarguments. C) Request a response from the receiver. D) Suggest new ideas, directives, or recommendations for change that will be of interest to the audience.