FILE PHOTO: Jay Z attends the ceremony of unveiling a star of DJ Khaled on the Hollywood Walk of Fame, in Los Angeles, California, U.S., April 11, 2022. REUTERS/Mario Anzuoni
(Reuters) - A Delaware judge on Tuesday dismissed a shareholder class action seeking to hold Jack Dorsey and other board members at Block Inc liable for approving the payments company's purchase of Jay-Z's streaming service Tidal.
Chancellor Kathaleen McCormick in Delaware Chancery Court said the Florida pension fund leading the case did not show that Block's directors acted in bad faith though the purchase it "seemed, by all accounts, a terrible business decision."
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