Chancery Cuts Most Claims In $3.5B Fintech Merger Suit

Law360 (December 1, 2020, 7:46 PM EST) -- A Delaware vice chancellor Monday tossed the brunt of claims asserted by an investor's proposed class action over Blackhawk Network Holdings Inc.'s $3.5 billion sale to two private equity firms in 2018, only letting stand a claim related to public disclosures about the gift card company's sale.

In a memorandum opinion, Vice Chancellor Paul A. Fioravanti Jr. tossed most of the suit's claims against Blackhawk CEO and President Talbott Roche and all claims against William Y. Tauscher, who was Blackhawk's executive chairman at the time of the sale.

"The complaint does not contain well-pleaded allegations that Roche and Tauscher manipulated the...

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