Law360, Wilmington (November 27, 2017, 7:50 PM EST) -- Aurelius Capital Management LP told the Delaware Supreme Court in a brief unsealed Monday that the Chancery Court’s appraisal of Sprint Nextel Corp.’s $3.6 billion buyout of Clearwire Corp. valued the deal so low as to be “virtually unprecedented” and relies on a “despotic notion” that is contrary to Delaware law.
In its opening brief appealing Vice Chancellor J. Travis Laster’s July 21 opinion, Aurelius argued that the court valued the merger at a “staggering discount” of less than half of the market price, and relied on the assumption that Sprint would continue to breach its fiduciary duties to shareholders “without...
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!