Last week, the Nevada Supreme Court answered the question of whether notice of dissenters’ rights must be delivered to both stockholders of record and beneficial owners.
NRS 92A.410(2) provides that when a merger is effected without stockholder approval under NRS 92A.180, the Nevada corporation “shall notify in writing all stockholders entitled to assert dissenters’ rights that the action was taken and send them the dissenters’ notice described in NRS 92A.430.” NRS 92A.430, in turn, provides that the corporation “shall deliver a written dissenter’s notice to all stockholders entitled to assert dissenters’ rights” and details what must be included in the notice.
Please see full article below for more information.
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Business Organization Updates, Mergers & Acquisitions Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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