• Lyondell Updated
  • July 14, 2009 | Author: Dale E. Short
  • Law Firm: TroyGould PC - Los Angeles Office
  • In August 2008, we posted a client alert regarding a controversial Delaware Chancery Court decision in Ryan v. Lyondell Chemical Co., which involved a class-action lawsuit challenging the $13 billion cash sale of Lyondell Chemical Co. to Basell AF in December 2007. In the suit against Lyondell's former independent directors, among other defendants, Lyondell stockholders alleged that the directors breached their fiduciary duties in approving the unsolicited offer from Basell on an expedited basis.