Numerous empirical studies have shown that hedge fund activism has led to enhanced returns to investors and increased firm performance. Nevertheless, leading figures in the corporate governance world have taken issue with these studies and have argued that hedge fund activism leads to long-term...

From time-to-time a controlling shareholder will want to eliminate the minority shareholders by buying them out in a transaction called a freeze-out merger. When challenged, the Delaware courts have reviewed the transaction under an entire fairness standard of review. Unfortunately, the...