A recent article from Law 360 [$$$] broke down the important considerations from the 2020 appraisal decisions of the Delaware Supreme Court and Delaware Court of Chancery. One of the takeaways from authors Lewis Lazarus and Bryan Townsend of Morris
Valuation Litigation & Shareholder Rights Blog
The Valuation Litigation & Shareholder Rights Blog, published by Rolnick Kramer Sadighi LLP, focuses on legal issues surrounding valuation disputes in mergers and acquisitions, appraisal rights, and shareholder protections. It covers Delaware appraisal jurisprudence, including valuation methodologies, statutory interpretations, and procedural aspects such as appraisal prepayments. The blog also examines comparative appraisal rights frameworks in other jurisdictions like the European Union and South Africa, highlighting cross-border merger implications and minority shareholder remedies. Topics include fair value determinations, the impact of post-signing changes on valuation, and strategic litigation considerations in shareholder rights and valuation disputes.
Latest from Valuation Litigation & Shareholder Rights Blog - Page 6
Cannabis Business Valuation: EisnerAmper on Varied Approaches to Value
By Steve Hecht
Given the rapid developments in the cannabis space — with 15 states having now legalized recreational marijuana and 21 states allowing medicinal use — approaches to the valuation of cannabis companies continues to evolve. In this new piece by EisnerAmper…
Corporation Seeks to Validate Merger After Botched Notice
By Jarett Sena
Devon Energy Corporation seeks to have the Delaware Chancery Court validate a shareholder vote after a notice snafu resulted in approximately 15% of shareholders receiving untimely notices on a $15 billion merger. After the merger closed between Devon Energy and…
South African Appraisal Rights: Details of Settlement Provide Unique Look Into Bid-Ask Dynamic
By Rich Bodnar
We’ve covered South African appraisal rights before – it remains a jurisdiction with active valuation and appraisal disputes making the news. One recent news article recaps a situation involving South African appraisal in the case of Sabvest Capital/Sabcap.
Per the…
Settlement Proposed For Investors Challenging Restructuring Alleged to Benefit Insiders
The Delaware Court of Chancery was asked last week to approve a $6.85 million settlement in case brought by a class of public stockholders challenging a corporate restructuring alleged to have favored insiders at the expense of the class.
According…
Guest Post: Cayman Court Confirms Appraisal Rights in Short-Form Mergers
In a comprehensive ruling handed down last week, the Grand Court of the Cayman Islands confirmed that minority shareholders of companies that undertake a ‘short-form’ merger are entitled to dissent from the merger and to be paid fair value for…
Cannabis Valuation: Colorado Court Speaks to Contract Rights Involving Illegality
By Steve Hecht
As reported in this Law360 piece, “Illegality Nixes Most of Marijuana Investment Scheme Suit,” a Colorado judge dismissed an investor’s fraud claim against the principal behind an investment vehicle whose strategy revolved around the Colorado cannabis industry. The court…
Del. Chancery Seeks More Briefing on Appraisal/Fiduciary Claim Waivers
In an apparent question of first impression, the Delaware Court of Chancery is considering whether stockholders in a Delaware corporation can relinquish their rights to object to the sale of the company and waive fiduciary duty claims through a stockholder…
Cannabis Valuation: Oregon Dispensary Valuation
By Steve Hecht
In this interesting piece on cannabis valuation, Oregon Cannabis: What is My Partial Marijuana Dispensary Ownership Interest Worth?, Harris Bricken takes a look at the value of a less-than-100% interest in an Oregon marijuana dispensary, and what may happen…
Cannabis Valuation: Cal. Proposed Bank Disclosure Rules
By Steve Hecht
As reported by Law360 here, state regulators in California have proposed regulations designed to decriminalize under state law activities by banks and accountants working with the cannabis industry, purporting to ease access to financial services for marijuana businesses. Such…