The Situation: Stockholders sought appraisal—judicial determination of the "fair value" of their stock—in connection with a merger. The Delaware Court of Chancery found that the fair value was equal to the company's...more
In recent decisions, the Delaware Court of Chancery continued to follow the Delaware Supreme Court’s mandate from Aruba, Dell and DFC to rely on market-based metrics, when available, to determine fair value in appraisal...more
This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between May and August 2019....more
This issue focuses on important, developing areas of Delaware corporation law and deal litigation, including recent trends involving the Corwin doctrine, the Delaware Supreme Court's decision reaffirming its view that deal...more
Key Takeaways - Aruba Networks continues the trend toward market-based measures of fair value in statutory appraisal actions and should further limit appraisal arbitrage opportunities. - In a statutory appraisal action,...more
Seyfarth Synopsis: The Delaware Chancery Court issued a decision Monday in a long-running appraisal dispute following Solera Holdings Inc.’s $6.5 billion sale to Vista Equity Partners LP in 2015 that rejected investors’ bid...more