16Jul
Delaware Court of Chancery Strictly Construes Shareholder Representative Provision, Complicating Discovery from Shareholders
Following a recent Delaware case, buyers in M&A deals should ensure that their purchase agreements adequately provide for access to information from the seller in case of post-closing disputes. In Fortis Advisors, LLC v. Allergan W.C. Holding, Inc., Vice Chancellor Morgan Zurn ruled that if a buyer consents to a single shareholder representative structure in a merger agreement, the buyer cannot later compel the individual selling shareholders’ participation in discovery as parties in interest....
By:
Dorsey & Whitney LLP
Source Url: https://www.jdsupra.com/legalnews/delaware-court-of-chancery-strictly-79094/
Related
On December 13, 2019, a split Eleventh Circuit Court of Appeals (sitting en banc) ruled that several...
Read More >
In late 2017, the NLRB in Boeing Company, 365 NLRB No. 154 (2017), established a new three category ...
Read More >
In response to the ongoing delays and uncertainty caused by the COVID-19 pandemic, Governor Brown si...
Read More >
All sectors of the construction industry have faced unique challenges in 2020, but none has been mor...
Read More >
How to avoid the gun-jumping fever - When an M&A transaction needs to be approved by a competition...
Read More >
The Colorado Department of Labor and Employment (CDLE) has adopted permanent amendments to its Wage ...
Read More >