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HORMAN v. ABNEY

C.A. No. 12290-VCS.

JOSEPH HORMAN and STEVEN GREEN, Derivatively for the Benefit of and on Behalf of Nominal Defendant, UNITED PARCEL SERVICE, INC., Plaintiffs, v. DAVID P. ABNEY, RODNEY C. ADKINS, MICHAEL J. BURNS, D. SCOTT DAVIS, WILLIAM R. JOHNSON, DR. CANDACE KENDLE, ANN M. LIVERMORE, RUDY H.P. MARKHAM, CLARK T. RANDT, JR., CAROL B. TOME and KEVIN M. WARSH, Defendants, and UNITED PARCEL SERVICE, INC., a Delaware corporation, Nominal Defendant.

Court of Chancery of Delaware.

Decided January 19, 2017.

Attorney(s) appearing for the Case

Peter B. Andrews, Esquire , Craig J. Springer, Esquire , and David M. Sborz Esquire , of Andrews & Springer LLC, Wilmington, Delaware; Judith S. Scolnick, Esquire , Thomas L. Laughlin, Esquire , and Scott R. Jacobsen, Esquire , of Scott + Scott Attorneys At Law, LLP, New York, New York; and Jesse Strauss Esquire , of Strauss Law P.L.L.C., New York, New York, Attorneys for Plaintiffs.

Kenneth J. Nachbar, Esquire , John P. DiTomo, Esquire , and Richard Li Esquire , of Morris, Nichols, Arsht & Tunnell LLP, Wilmington, Delaware; Jamie A. Levitt Esquire , and Steven T. Rappoport Esquire , of Morrison & Foerster LLP, New York, New York; and Philip T. Besirof Esquire , of Morrison & Foerster LLP, San Francisco, California, Attorneys for Defendants and Nominal Defendant.

MEMORANDUM OPINION

Stockholders of United Parcel Service, Inc. ("UPS" or the "Company") have brought this derivative action on behalf of the Company against members of its Board of Directors (the "Board") alleging that they breached their fiduciary duty of loyalty by consciously failing to monitor and manage UPS...

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