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Summaries and analysis of recent Delaware court decisions concerning business-related litigation.
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Court of Chancery Enjoins Vote
Posted In Stockholders' Meetings
David P. Simonetti Rollover IRA v. Margolis, C.A. 3694-VCN (Del. Ch. June 27, 2008)
What must be disclosed to stockholders in a proxy for a merger vote is now well established. This decision again repeats that the interest of the investment firm giving a fairness opinion must be disclosed. Moreover, that does not just include its fees but also any gain it expects to make on the deal through its ownership of stock or other securities in the target.
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