Chancery Seeks Revlon Check For $1.6B Redbox Parent Sale

Law360 (August 6, 2020, 10:39 PM EDT) -- The fate of a Delaware Chancery Court suit targeting the allegedly underpriced, $1.6 billion sale of Redbox owner Outerwall Inc. could hinge in part on when — or if — its directors' conduct should face "enhanced scrutiny" under the state's cornerstone "Revlon" standard, a vice chancellor said Thursday.

Vice Chancellor Morgan T. Zurn asked both sides to submit a letter or brief on the question of when an enhanced review kicks in during the final minutes of a videoconferenced dismissal argument. The court's request invoked a ruling in the 1986 Revlon v. MacAndrews & Forbes Holdings decision that established an intermediate...

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