Publication Date: 2018-10-24
Practice Area: Corporate Governance | Mergers and Acquisitions | Securities Litigation
Industry: Food and Beverage
Court: Delaware Supreme Court
Judge: Justice Strine
Attorneys: For plaintiff: Ryan M. Ernst, Daniel P. Murray,O'Kelly Ernst & Joyce, LLC, Wilmington, DE; Donald J. Enright, Eliza-beth K. Tripodi, Levi & Korsinsky, LLP, Washington, D.C., attorneys for plaintiff
for defendant: Matthew E. Fischer, Matthew R. Dreyfuss, Potter Anderson & Corroon LLP, Wilmington, DE; Roger A. Cooper, Rishi N. Zutshi, Vanessa C. Richardson, Hana Choi, Cleary Gottlieb Steen & Hamilton LLP, New York, NY, attorneys for defendants Synutra, Jinrong Chen, Lei Lin and Yalin Wu; William M. Laf-ferty, John P. DiTomo, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Lawrence Portnoy, Re-becca L. Martin, Davis Polk & Wardwell LLP, New York, NY, for defendants Liang Zhang, Xiuqing Meng and Beams Power Investment Ltd.
Case Number: D68329
The business judgment rule applied, even though a controller's initial offer did not contain the required condi-tions, because he provided a second letter containing those conditions prior to any action by the special com-mittee.