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Court Of Chancery Enjoins Proxy Contest For Violation Of NDA
Posted In M&A
Martin Marietta Materials Inc. v. Vulcan Materials Company, C.A. 7102-CS (May 4, 2012)
Non-disclosure agreements are often used and frequently ignored. Well not any more. This decision enjoins a proxy contest for 4 months because the bidder violated a NDA in its proxy materials. This unique remedy will make it much more important to carefully draft and to honor NDAs.
Tags: M&A
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