3 Takeaways From Strine's Morton's Ruling

Law360, New York (July 29, 2013, 8:17 PM EDT) -- There's a lot for defendants to like in Chancellor Leo E. Strine Jr.'s recent dismissal of a shareholder lawsuit over the sale of Morton's Restaurant Group Inc., including a footnote that could signal a shift in claims against financial advisers.

Morton's struck a deal in December 2011 to sell itself to restaurant mogul Tilman Fertitta for $117 million. The transaction ended Morton's five-year run as a public company and cashed out its private equity backer, Castle Harlan Inc., which had bought the Chicago-based steakhouse chain in...
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