Case Study: In Re Answers Corp. Shareholders Litigation

Law360, New York (August 17, 2012, 12:58 PM EDT) -- In these difficult economic times, financial sponsors often find themselves holding their investments longer than they initially intended. Liquidity and exit opportunities are not easy to come by and are often fleeting when they present themselves.

Nevertheless, a recent Delaware Chancery Court case reminds us that a board of directors must satisfy its fiduciary duties to all stockholders in a change of control transaction, despite pressures from financial sponsors or other major investors to “get the deal done.” In re Answers Corp. Shareholders Litigation, Consolidated C.A....
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