"The Delaware Supreme Court on Thursday sent back for reconsideration a Chancery Court decision that dismissed without judicial review a Kiromic Biopharma Inc. board committee ruling that a company stock grant to a director in 2017 correctly erased two earlier stock awards. Justice Gary F. Traynor, writing for a three-justice panel, said Vice Chancellor Morgan T. Zurn properly found that the challenged decision should first be examined by a special committee of the biotechnology company, which upheld the original decision as final and unreviewable. But the justices unanimously concluded that the committee's deliberation was not carried out by an arbitrator, and therefore was not shielded from court scrutiny, based on a distinction between arbitration and expert findings. ...
"The ruling already has turned up as a consideration in another case. Vice Chancellor Nathan A. Cook has asked parties in a dispute to be prepared to discuss the Kiromic opinion during a scheduled hearing on Monday."
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