Software Co. Directors Didn't Breach Duties In $60M Sale

Law360, Wilmington (August 16, 2013, 10:09 PM ET) -- A Delaware Chancery judge ruled Friday that the $60 million deal to sell translation software firm Trados Inc. to SDL PLC was indeed fair to common shareholders who challenged the transaction, since their shares retained the same value of zero before and after the sale.

Vice Chancellor J. Travis Laster wrote in a 115-page opinion that even though Trados's directors did not use a sales process that was fair to common shareholders, the results of the deal were fair, and thus the brass didn't breach their...
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