Deal Lessons From Del. Ruling Against Seller CEO And Buyer

By Amy Simmerman, Brad Sorrels and Lauren DeBona (March 28, 2023, 4:09 PM EDT) -- On March 15, Chancellor Kathaleen St. J. McCormick issued a rare post-trial decision in In re: Mindbody Inc. Stockholder Litigation finding former Mindbody CEO Richard L. Stollmeyer personably liable for millions of dollars in damages for breaching his fiduciary duties by tilting his company's sale process in favor of his preferred acquirer, Vista Equity Partners Management LLC, and failing to disclose material facts about the sale process....

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