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Court of Chancery Limits Appraisal Demands

Posted In Appraisal

Konfirst v. Willow CSN Incorporated, C.A. No. 1737-N (Del. Ch. December 12, 2006).

Delaware law has long held that to qualify for appraisal rights after a merger, a stockholder must follow the statutory rules carefully. Here, many stockholders filed their demand for appraisal too late and the Court barred their claims for failure to file on time. Other stockholders failed to have their demands signed by all the record owners, another fatal defect.

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