Trustwave Merger Suit Survives Due To 'Skimpy' Disclosure
Law360 (April 8, 2020, 10:56 PM EDT) -- A Delaware vice chancellor on Wednesday let stand a lone claim from a consolidated investor suit alleging Trustwave Holdings Inc. unfairly gave certain stockholders preferential treatment in its roughly $850 million merger with Singapore Telecommunications Ltd., saying a claim related to a "decidedly skimpy" transaction disclosure can proceed.
Vice Chancellor J. Travis Laster said that a breach of fiduciary duty of disclosure claim related to the 2015 merger survives Trustwave's motion to dismiss because a "bare-bones" information statement sent to stockholders about the transaction was "decidedly skimpy" and therefore could "reasonably" be deemed to have been made in bad faith....
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!