Publication Date: 2023-04-11
Practice Area: Mergers and Acquisitions
Industry: Investments and Investment Advisory
Court: U.S. District Court of Delaware
Judge: District Judge Noreika
Attorneys: For plaintiff: Sue L. Robinson, Brian E. Farnan, Michael J. Farnan, Farnan LLP, Wilmington, DE; Andrew J. Entwistle, Entwistle & Cappucci LLP, Austin, TX; Vincent R. Cappucci, Arthur V. Nealon, Brendan J. Brodeur, Jonathan H. Beemer, Jessica A. Margulis, Entwistle & Cappucci LLP, New York, NY; Marc M. Seltzer, Krysta Kauble Pachman, Susman Godfrey L.L.P., Los Angeles, CA for plaintiffs.
for defendant: A. Thompson Bayliss, April M. Ferraro, Christopher Fitzpatrick Cannataro, Abrams & Bayliss LLP, Wilmington, DE; Alan S. Goudiss, K. Mallory Brennan, Sherman & Sterling LLP, New York, NY; Christian E. Myrold, Shearman & Sterling LLP, San Francisco, CA; Matthew D. Stachel, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Jaren Janghorbani, Geoffrey Chepiga, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY for defendants.
Case Number: 20-275 (MN) (JLH)
Court hearing claims under §14(a) properly excluded shareholders who sold their stock after the merger approval vote but before closing, since their alleged pecuniary injury did not directly arise from the challenged merger.