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Glycogen stores and endurance are increased by increasing fa… | Wiki Cram

Glycogen stores and endurance are increased by increasing fa…

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Glycоgen stоres аnd endurаnce аre increased by increasing fat intake.

ABC, Inc. is а publicly held аnd registered cоrpоrаtiоn. For many years it has been successful in acquiring and leasing large facilities to retail businesses and manufacturing firms throughout State. Over the last year, many of the retail business lessees have not been able to compete with the online shopping giants and have vacated ABC’s buildings. Similarly, an economic downturn in State has resulted in most of the manufacturing lessees becoming insolvent or relocating to other states. Consequently the vacancy rate for ABC’s properties is approaching 100%. Del is the CEO and Chairman of the Board of ABC. He was approached by Shelby, a private equity investor who told Del she would offer $100 per share for all of ABC’s outstanding stock. At the time, ABC’s stock was selling for $50 per share on the stock exchanges and had never sold for more than $60 per share. Del said he would respond within the week to her proposal. The next day, before discussing Shelby’s proposal with anyone, Del purchased 2000 shares of ABC stock for $100,000 on the New York Exchange. Two days later Del met with the ABC Board of Directors and advised them of Shelby’s offer. After a two-hour discussion, and in light of the premium offered by Shelby and the dire financial situation facing ABC, the Board followed Del’s enthusiastic endorsement of the offer and recommended the tender offer to the ABC shareholders. Subsequently, the ABC shareholders overwhelmingly approved Shelby’s offer. As the date for closing the takeover approached, Shelby sought and was given a short extension in order to finalize her financing of the deal. Eventually she purchased the shares and became the sole owner of ABC, Inc. Over the next few months Shelby sold all of the vacant ABC properties to Jeff Beezwax who renovated the properties and re-purposed them as warehouse and fulfillment centers for his well-established online marketplace and e-commerce. Shelby made a substantial profit on the purchase of ABC and the sale of the properties to Beezwax. What fiduciary duties, if any, were breached by Del? By the ABC Board of Directors? What federal securities laws, if any, did Del violate? Discuss fully.