Court Of Chancery Dismisses Merger Complaint
Posted In M&A
Miramar Firefighters Pension Fund v. Abovenet, Inc., C.A. 7376-VCN (July 31, 2013)
This decision is a good example of when a complaint about really nothing to complain about will be dismissed, even in the current environment where every merger is subject to litigation. Here there was virtually no evidence any better deal was available, almost every director was disinterested, there was an extensive search for suitors, and the claims over the way the fairness opinion was done were just quibbles.