There is perhaps no richer vein of literary gold than conflict between fathers and sons. Hamlet, Robinson Crusoe, multiple characters drawn by Charles Dickens, not to mention the mother of all family contretemps, Oedipus Rex, touch on this deeply human power struggle.
One such conflict was the backdrop for the Pennsylvania Superior Court’s recent decision
For some owners of closely held companies, installing a board of directors may seem more painful than cutting off one of their pinkie fingers.
They’d have to give up control of their business.
They’d have to share confidential information.
They’d have to waste time on the formalities of having a board.
They’d have to waste
Last month, we tackled Pennsylvania’s “universal” demand requirement. As a refresher, unlike many states, Pennsylvania will not excuse the shareholder of a company who wants the company to sue its executives or directors from making a written demand on the company’s board of directors prior to filing a lawsuit even when doing so would