July, 2018
Delaware Supreme Court Clarifies Pleading Standard in Post-Closing Damages Action Alleging Breach of “Revlon Duties”
Jul. 31, 2018—Robert S. Reder & Victoria L. Romvary | 72 Vand. L. Rev. En Banc 29 | Kahn v. Stern | Delaware Supreme Court Clarifies Pleading Standard in Post-Closing Damages Action Alleging Breach of “Revlon Duties” | PDF Download Link | But affirms Chancery Court finding that “side deals” for corporate insiders in connection with a...
Chancery Court Again Grants Early Dismissal of Litigation Challenging Control Stockholder-Led Buyout
Jul. 31, 2018—Robert S. Reder | 72 Vand. L. Rev. En Banc 11 | Synutra | Chancery Court Again Grants Early Dismissal of Litigation Challenging Control Stockholder-Led Buyout | PDF Download Link | Chancery Court determines buyout followed “M&F Framework” even though initial offer failed to condition transaction on board committee and disinterested stockholder approval.
Delaware Supreme Court Bars Buyer From Using Narrowly-“Cabined” Working Capital Adjustment To Attack Seller’s Alleged Non-Compliance With GAAP
Jul. 29, 2018—Robert S. Reder & William Pugh | 72 Vand. L. Rev. En Banc 19 | Chicago Bridge v. Westinghouse | Delaware Supreme Court Bars Buyer From Using Narrowly-“Cabined” Working Capital Adjustment To Attack Seller’s Alleged Non- Compliance With GAAP | PDF Download Link | When sellers and buyers successfully negotiate the terms for the sale...
Chancery Court Declines to Apply Corwin to Forclose a Books and Records Inspection Under DGCL Section 220
Jul. 8, 2018—Robert S. Reder & Dylan M. Keegan | 72 Vand. L. Rev. En Banc 1 | Lavin v. West Corp. | Chancery Court Declines to Apply Corwin to Foreclose a Books and Records Inspection Under DGCL §220 | Download Link | Determines, as a matter of law, that Corwin should not preclude a stockholder’s “use...