SWS Investor Says Chancery Appeal Gave Heft To Bad Math

Law360 (February 21, 2018, 9:54 PM EST) -- Attorneys for shareholders of financial services firm SWS Group Inc. told a panel of the Delaware Supreme Court that a lower court decision significantly lowering the fair value of company shares in an appraisal action was flawed because it didn't consider an increase in the number of SWS shares outstanding.

During oral arguments at the Widener University Delaware School of Law, the three-member panel of justices heard from Merlin Partners LP attorney Marcus Montejo of Prickett Jones & Elliott LLP that Vice Chancellor Sam Glasscock gave equal weight to arguments from the investors and the company over the size premium that...

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