Analysis

Chancery Issues Lightspeed Injunction As Case Tempo Rises

Law360 (March 12, 2019, 9:12 PM EDT) -- The Delaware Chancery Court bumped its judicial warp speed up by another factor this week with a post-trial ruling that paused a complex merger of Medley Capital Corp. and Sierra Income Corp. just 29 days after the start of litigation, as a court already known for prompt action adapts to what experts say is a busier and more competitive corporate law environment.

In the decision, Vice Chancellor Kathaleen S. McCormick blocked, pending additional deal disclosures, a stockholder vote on a proposed two-step, three-party merger involving Sierra Income’s acquisition of Medley Capital and Medley Management Inc., in a transaction dominated by investor-brothers...

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