New Del. High Court Rulings Scuttle Chancery Merger Suit

By Katryna Perera (October 1, 2021, 7:10 PM EDT) -- The Chancery Court of Delaware tossed a derivative suit against top investors of Talos Energy Inc. over a $1.1 billion oil field deal, saying the stockholders couldn't establish that there were quid pro quo agreements or that two private equity sponsors acted as a control group over Talos.

Vice Chancellor Morgan T. Zurn also cited two recent Delaware Supreme Court decisions on derivative and "dual-natured" stockholder claims in her order, noting that the stockholders' claims cannot survive based on these recent rulings.

In February, public shareholders of Talos argued that a flawed deal valuation and conflict-tainted acts led to an overpriced,...

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!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!