In the landmark late December decision C&J Energy Services v. City of Miami General Employees and Sanitation Employees’ Retirement Trust, the Delaware Supreme Court reaffirmed basic principles of Delaware corporation law and clarified the limits and proper uses of equitable power in the judicial regulation of corporate mergers.
The decision reversed a trial court order, issued only weeks earlier, preliminarily enjoining a negotiated merger, thus demonstrating the Delaware high court’s ability and willingness to issue important corporate law guidance in the context of an expedited appeal.
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