Del. Justices Reverse $18B Towers Watson Merger Suit Toss
Law360 (June 30, 2020, 9:18 PM EDT) -- A split Delaware Supreme Court on Tuesday reversed and sent back for reconsideration the Chancery Court's mid-2019 dismissal of a stockholder suit challenging the $18 billion merger of Towers Watson & Co. and Willis Group, saying the lower court mistakenly deferred too much to the combined company when it dismissed breach of fiduciary duty claims against Towers' CEO.
The 45-page majority opinion, written by Justice Karen L. Valihura, noted that Vice Chancellor Kathaleen S. McCormick tossed stockholder arguments that Towers CEO John J. Haley received details of a proposed five-fold equity compensation hike if the merger went through. The shareholders say...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!