Gary E. Thompson

Court Rejects Challenges to Sale Process and Disclosures in Micromet Litigation
Steven M. Haas,Gary E. Thompson, March 22, 2012
The Delaware Court of Chancery recently affirmed a board’s sale process by denying a motion for a preliminary injunction in In re Micromet, Inc. Shareholders Litigation. The court upheld the board’s decision not to contact financial buyers and to limit its pre-signing market check to a...

Two Delaware Decisions Address CEO Conflicts in M&A Transactions
Steven M. Haas,Gary E. Thompson, March 20, 2012
Two recent Delaware decisions reflect the potential pitfalls of having an interested chief executive officer lead a sale process. These decisions offer an important reminder to boards of directors and officers to identify and manage conflicts of interest. Among other things, the board should...

Delaware Court Awards $2.4M Fee Award for “Loosening” Deal Protections
Steven M. Haas,G. Roth Kehoe,Gary E. Thompson, December 21, 2011
On December 9, 2011, in In re Compellent Technologies, Inc. S’holder Litig., the Delaware Court of Chancery granted a $2.4 million fee award to plaintiffs’ attorneys who negotiated a settlement arising out of stockholder litigation challenging a merger. The settlement called for several...