Publication Date: 2023-01-10
Practice Area: Mergers and Acquisitions
Industry: Biotechnology | Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Fiorvanti
Attorneys: For plaintiff: Thomas Curry, Tayler D. Bolton, Saxena White P.A., Wilmington, DE; David Wales, Saxena White P.A, White Plains, NY; Gregory V. Varallo, Berstein Litowitz Berger & Grossmann LLP, Wilmington, DE: Mark Lebovitch, Berstein Litowitz Berger & Grossmann LLP, New York, NY; Jeremy Friedman, Oster & Tejtel PLLC, Bedford Hills, NY for plaintiff.
for defendant: Cliff C. Gardner, Andrew D. Kinsey, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE for defendants.
Case Number: 2021-1030-PAF
The court granted defendant's motion to dismiss finding that plaintiffs failed to plead sufficient facts to demonstrate that the business judgment rule should not apply to a complaint challenging a merger transaction between defendant majority stockholder and another company.