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INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL NO. 129 BENEFIT FUND v. TUCCI

SJC-12137.

476 Mass. 553 (2017)

INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL NO. 129 BENEFIT FUND v. JOSEPH M. TUCCI & others (and eight consolidated cases).

Supreme Judicial Court of Massachusetts, Suffolk.

March 6, 2017.

Attorney(s) appearing for the Case

Jason M. Leviton ( Michael G. Capeci , of New York, & Joel A. Fleming also present) for International Brotherhood of Electrical Workers Local No. 129 Benefit Fund & others.

Thomas J. Dougherty ( Kurt Wm. Hemr also present) for Joseph M. Tucci & others.

John Pagliaro & Martin J. Newhouse , for New England Legal Foundation, amicus curiae, submitted a brief.

Ian D. Roffman & Matthew J. Connolly , for Associated Industries of Massachusetts, amicus curiae, submitted a brief.

Present: GANTS, C.J., BOTSFORD, LENK, HINES, GAZIANO, LOWY, & BUDD, JJ.

In these consolidated cases, shareholders of a publicly traded corporation claim that a merger transaction proposed by the board of directors will result in the effective sale of the corporation for an inadequate price. The question we consider is whether they may bring that claim directly against the board members, or must bring it...

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