On July 24, the state Supreme Court answered a certified question from the U.S. Court of Appeals for the Third Circuit regarding what recourse is available to minority shareholders who oppose a corporate merger.
It’s rare that the Third Circuit seeks the certification of a legal question and even more rare that the justices agree to take on such a question, but practitioners said it can be a useful device for avoiding situations where federal appeals courts would otherwise be forced to guess how the state Supreme Court might rule on a particular issue.
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