kaal:claim:5583610-034

Delaware fiduciary standards create litigation exposure for LER: if distributions are judged disproportionate under Unocal or Blasius, boards face court invalidation and roughly $1 to $3 million in cost per dispute.

Delaware fiduciary standards, including Unocal and Blasius, add litigation risks if distributions are deemed disproportionate, potentially leading to court invalidations and associated costs of $1–3 million per dispute.

Wulf A. Kaal, Liquid Equity Rewards in Corporate America (2025), 9.1. Costs and Risks, p. 32
https://ssrn.com/abstract=5583610 · source PDF

Wulf A. Kaal, Liquid Equity Rewards in Corporate America (2025). SSRN: https://ssrn.com/abstract=5583610

• distribution deemed disproportionate
• Delaware enhanced scrutiny litigation

failuresupport: arguedfailure: disproportionality invalidationfamily: compliance-cost-and-barrier-to-entrylaw-and-legal-systemsrisk-and-incentives

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