The Delaware Court of Chancery, in Palkon v. Maffei, et al., C.A. No. 2023-0449-JTL (Del. Ch. Feb. 20, 2024), determined that a reduction in the liability exposure of a fiduciary due to the conversion of a Delaware...more
California Corporations Code Section 409(e) imposes a duty on the board of directors to determine "the fair value to the corporation in monetary terms of any consideration other than money for which shares are issued". Does a...more
The Fed delivered on its expected quarter-point rate cut yesterday, the first decrease in short term rates since 2008. Fed Chair Powell cited “the implications of global developments for the economic outlook as well as muted...more
The Delaware Supreme Court, sitting en banc, recently reversed in part and remanded the Court of Chancery’s decision regarding the appraisal of Dell, Inc. (“Dell”)[i], which builds upon another recent appraisal decision in...more
Dell Inc. v. Magnetar Global Event Driven Master Fund Ltd., No. 565, 2016 (December 14, 2017) - In this much-anticipated decision, the Delaware Supreme Court stresses the importance of the deal price to the award in an...more
The Delaware Supreme Court, sitting en banc, recently reversed and remanded the Court of Chancery’s appraisal decision in DFC Glob. Corp. v. Muirfield Value Partners, L.P. (“DFC Global”), a highly publicized opinion in which...more
In In re Appraisal of Ancestry.com, Inc., C.A. No. 8173-VCG (Del. Ch. 2015), the Delaware Court of Chancery held in connection with an appraisal proceeding brought by a dissenting shareholder that the best indication of the...more