In IBEW Local No. 129 Ben. Fund v. Tucci., the Supreme Judicial Court (SJC) affirmed a decision by Judge Leibensperger of the BLS dismissing a class action brought by EMC shareholders against EMC board members. The plaintiff alleged that the board members violated their fiduciary duties when they approved the sale of EMC to Dell for $64 billion. Affirming Judge Leibensperger’s decision, the SJC held that directors of a Massachusetts corporation generally have a unitary duty to act in the best interests of the corporation, rather than dual duties that run to both the corporation and its shareholders.
The Superior Court updated its Administrative Directive governing the BLS to broaden the scope of the types of cases that the BLS will preside over. This new directive signifies that the BLS is open to hearing almost any complex civil case—not just quintessential business cases.
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Senior Editor, Co-Chair, Business Litigation Practice Group
