Emulex Doomed By Procedural Issues In Tender Offer Case
Law360 (April 23, 2019, 7:34 PM EDT) -- The U.S. Supreme Court's unusual decision Tuesday to drop an appeal after hearing oral arguments caught many court watchers off guard, yet a procedural issue unique to Emulex Corp.'s dispute involving the standard for bringing certain tender offer claims is the likely culprit.
During oral arguments last week, the justices were divided about whether to consider Emulex's argument — raised in its October petition for a writ of certiorari — that a right of action doesn't exist at all for private plaintiffs alleging false statements and omissions related to tender offers. If the investors who brought the suit against Emulex didn't...
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