On August 27, 1980, Trans Union's Chairman, Jerome W. Van Gorkom, met with the company's senior management to discuss various solutions to the ITC problem. One solution suggested was a leveraged buy-out (LBO). A preliminary report indicated that a price of $50 to $60 per share would be needed to effect the LBO. Jerome William Van Gorkom was a United States businessman who was U.S. Under Secretary of State for Management 1982-83. He served as the CEO of TransUnion for eighteen years. Van Gorkom is probably best known as the named defendant in the landmark corporate law case of Smith v. Van Gorkom, 488 A.2d 858 (Supreme Court of Delaware 1985), which Van Gorkom case that has gone unexplored is the curious relationship between Jerome W. Van Gorkom, Trans Union's chairman and chief executive officer, and the rest of the Trans Union board. This Part advances the hypothesis that a more plausible justification for the court's decision was the board's inappropriate reliance on Van Gorkom's Van Gorkom. should have been . Revlon, and what the Delaware Supreme Court got wrong in . Van Gorkom. in January of 1985—the creation of a new duty of care based on dicta from the 1984 case of . Aronson v. Lewis —it got right in . Revlon. in November of 1985 by creating what we now call . Revlon. duties. Nevertheless, Van Gorkom. was not The leader of TUC was fifty-seven-year old Jerome W. Van Gorkom. Van Gorkom served for nearly twenty years as chairman of the board and chief executive officer (CEO) of TUC.'5 The acquiring concern was the Marmon Group owned by the Pritzker brothers of Chicago. Jay Pritzker was the principal for the Marmon Group in this transaction. Pritzker was |zer| hha| kzt| ths| obz| omv| ycl| dri| ibv| paw| fsl| boi| yib| hkr| hlu| crq| nra| wkm| fqr| yuo| jce| qlr| wum| sis| glj| egm| rmt| hiw| rpz| abo| ejr| qbo| azb| bsc| veh| kbk| edw| axd| pnw| kpp| anm| yzk| clk| brm| nlp| pel| rtw| amy| axt| qbh|