Publication Date: 2018-03-07
Practice Area: Corporate Governance | Mergers and Acquisitions
Industry: Hospitality and Lodging
Court: Delaware Supreme Court
Judge: Justice Strine
Attorneys: For plaintiff: Jeremy Friedman, Spencer Oster, and David Tejtel, Friedman Oster & Tejtel PLLC, New York, NY; Peter B. Andrews, Craig J. Springer, and David M. Sborz, Andrews & Springer LLC, Wilmington, DE, attorneys for appellant
for defendant: Mark A. Kirsch and Jefferson E. Bell, Gibson, Dunn & Crutcher LLP, New York, NY; Brian M. Lutz, Gibson, Dunn, & Crutcher LLP, San Francisco, CA; Raymond J. DiCamillo and Elizabeth DeFelice, Richards, Layton & Finger, P.A., Wilmington, DE; Stephen B. Brauerman and Sara E. Bussiere, Bayard, P.A., Wilmington, DE, attorneys for appellees.
Case Number: D68063
Boards decision to exclude the chairman/founders opposition to a proposed merger transaction from the stockholders proxy statement was in error, where the facts of such opposition may have been material to a stockholders decision to approve the transaction and the omission of such facts rendered the proxy a partial, incomplete disclosure.