'Entire Fairness' Is More Than Just A Fair Price

Law360, New York (September 24, 2014, 10:13 AM EDT) -- Vice Chancellor John Noble recently held that a recapitalization, although approved and implemented at a fair price, was not entirely fair due to the grossly unfair process, and that the affiliates of the venture firms, to the extent not liable as part of the control group, are liable as aiders and abettors.[1] He concluded "that a price that, based on the only reliable valuation methodologies, was more than fair, does not ameliorate a process that was beyond unfair."...

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