The Ropes Recap: Mergers & Acquisitions Law News - April 2014

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In this issue:

- News from the Courts

- News from the Regulators

- Tax News

- Notable Pending Deals

- Contributors

- Excerpt from News from the Courts:

Delaware Court of Chancery holds financial advisor liable for aiding and abetting a breach of fiduciary duties by the Rural/Metro board of directors -

On March 7, the Delaware Court of Chancery published a post-trial opinion in In Re Rural Metro Corporation Stockholders Litigation (“Rural Metro”) finding Rural/Metro’s financial advisor RBC liable for aiding and abetting the Rural/Metro’s board of directors’ breach of its fiduciary duties in connection with the acquisition of Rural/Metro by Warburg Pincus. The decision is the latest in a series of Delaware opinions concerning conflicts of interest of banks and investment firms in advising companies in buy-out transactions. It demonstrates the importance of good process and evidences Delaware’s continuing skepticism regarding staple financing.

Please see full newsletter below for more information.

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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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