Supreme Court of Delaware

In an action involving the lower court's interpretation of a Certificate of Designation, which delineates the rights, preferences, limitations and restrictions of the Series B Preferred Stock, the Court of Chancery properly held that, as a matter of law, holders of Series B Preferred Stock did not have the statutory right to vote on any mergers, but instead had only a distinguishable contractual right to approve of and consent to mergers.

Appellate Information

• Decided 01/15/2008
• Published 01/15/2008

Judges

• HOLLAND, Justice., Before STEELE, Chief Justice, HOLLAND and BERGER, Justices.

Court

• Supreme Court of Delaware

Counsel

• For Appellant:
  
• Ronald A. Brown, Jr., Esquire, Prickett, Jones & Elliott, P.A., Wilmington, Delaware, for appellant.


• For Appellees:
  
• Daniel A. Dreisbach, Esquire (argued), Daniel M. Silver, Esquire, and Harry Tashjian, IV, Esquire, Richards, Layton & Finger, Wilmington, Delaware, and Perry A. Pappas, Esquire, Morris, Cohen, LLP, New York, New York, for defendants World Focus and Essar Investments Limited., R. Judson Scaggs, Jr., Esquire and Kevin M. Coen, Esquire, Morris, Nichol, Arsht & Tunnell, Wilmington, Delaware, for defendants, Aegis Communications Group, Inc., Anshuman Ruia, Pramod Saxena, Rajiv Agarwal, Kannan Ramasamy, Madhu Vuppuluri, Richard Ferry, John-Michael Lind, Rashesh Shah and Kamalnayan Agarwal.