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Cashed-Out Shareholders May Bring Class Action for Damages and Appraisal by C. John Koch
Jenner & Block LLP - Chicago Office
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September 3, 2009
Previously published on July 2009
In Berger v. Pubco Corp., No. 509, 2008, 2009 WL 1976529 (Del. July 9, 2009), the Delaware Supreme Court held that minority shareholders who tender in short-form mergers based on incomplete disclosures may bring a class action for damages without an "opt in" requirement or the need to escrow the merger consideration in the interim.
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