Supreme Court of Delaware

In an action brought by minority shareholders involving the appropriate remedy in a short form merger, Court of Chancery judgment is reversed where the majority stockholder's duty of disclosure provides important protection for minority stockholders being cashed out in a short form merger, and the protection of the quasi-appraisal remedy for a violation of that fiduciary disclosure obligation should not be restricted by opt in or escrow requirements.

Appellate Information

• Decided 07/10/2009
• Published 07/10/2009

Judges

• JACOBS, Justice., Before STEELE, Chief Justice, HOLLAND, BERGER, JACOBS and RIDGELY, Justices, constituting the Court en Banc.

Court

• Supreme Court of Delaware

Counsel

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


• For Appellees:
  
• Allen M. Terrell, Jr. (argued), Brock E. Czeschin and Meredith M. Stewart, Esquires, of Richards, Layton & Finger, Wilmington, Delaware, for Appellees.