The United States Court of Appeals for the Third Circuit ruled that a company that adopted a shareholder's right plan did not violate Section 10(b) of the Securities Exchange Act or Rule 10b-5, since the corporate officers and board members did not omit facts or misinform the public as to any material matter regarding the plan.
Lewis v Chrysler Corporation, 949 F2d 644 (3d Cir 1991).
Securities Exchange Act - Breach of Corporate Fiduciary Duty,
Duq. L. Rev.
Available at: https://dsc.duq.edu/dlr/vol31/iss1/11