An en banc panel of the Delaware Supreme Court upheld a 2014 Court of Chancery ruling that a conflicted transaction resulting in a fair price failed to satisfy the entire fairness standard of review because of an unfair process.
Chief Justice Leo E. Strine Jr. said the Court of Chancery had gone to great lengths in its Sept. 4, 2014, decision in a case, captioned In re Nine Systems Shareholders Litigation, to apply a “challenging body of law in a hotly contested matter.”
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