In its April 21, 2010 decision in Crown EMAK Partners, LLC v. Kurz, the Delaware Supreme Court stated that the Delaware Chancery Court’s determination in Kurz v. Holbrook that banks and brokers holding a corporation’s shares in “street name” and included on The Depository Trust Company’s listing of shares held by its participants would be treated as stockholders of record for purposes of voting or executing stockholder written consents should be regarded as obiter dictum and without precedential effect.

View full M&A Alert: "Delaware Supreme Court Renders Expanded Record Holder Definition from Kurz v. Holbrook to be Without Precedential Effect"