Del. Chief Justice 'Troubled' By $2.2B Stillwater Appraisal
Law360 (July 15, 2020, 4:33 PM EDT) -- Delaware's chief justice acknowledged Wednesday that he was troubled by a $2.2 billion Chancery Court mining company appraisal case in which the court declined to explore the need for a post-signing, pre-closing price adjustment, allegedly based on stockholder failure to flag the issue.
The comment during a stockholder Supreme Court appeal from Vice Chancellor J. Travis Laster's August 2019 appraisal suit decision to stick with the deal price in the 2017 sale of Stillwater Mining Co. could bring a closer look at the lower court's independent role in valuing transactions aside from the competing arguments of sellers and company investors....
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