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Takeaways From Delaware's 'New Low' In Flawed Valuation

Law360, New York (August 5, 2015, 1:33 PM EDT) -- Jason M. Halper

Peter J. Rooney On July 28, 2015, the Delaware Court of Chancery issued a post-trial opinion in which it criticized in particularly strong terms the analysis performed by a financial firm that was retained to value companies that were being sold to a third party or spun off to stockholders (the "valuation firm"). See Fox v. CDX Holdings Inc., C.A. No. 8031-VCL (Del Ch. July 28, 2015).

CDX is just the latest decision in which the Chancery Court has awarded damages and/or ordered injunctive relief based in part on a financial firm's failure to discharge its role appropriately....

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