JPMorgan Can't Nix Fresh Market Sale Suit, But Cravath Exits

Law360 (June 1, 2020, 11:44 PM EDT) -- The Delaware Chancery Court on Monday dismissed stockholder claims against Cravath Swaine & Moore LLP, Apollo Global Capital and others, but kept alive claims against JPMorgan Chase & Co. related to its role as financial adviser in an allegedly flawed, $1.4 billion go-private sale of Fresh Market Inc. in 2016.

Vice Chancellor Sam Glasscock III said that at this stage of the putative class action, the stockholders' allegations that JPMorgan's backchannel communications with the buyer, Apollo, are sufficient to keep alive their claims that it aided and abetted a breach of fiduciary duty by its client, Fresh Market.

"A conflicts disclosure...

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