Wilmington partner Mike Maimone was quoted in the Law360 article “Dell Ruling Bridges Philosophical Gap In Delaware Appraisal Law.” The Delaware Supreme Court’s reversal of the Chancery Court’s appraisal of a $25 billion deal to take Dell private sets guidelines for appraisal litigation moving forward.

Mike discussed the reasoning behind the court’s decision, noting that “[t]he Supreme Court gets concerned when the Chancery blazes a new trail and goes off a well established road.” He added that “Dell is a message from the Supreme Court that if a chancellor or vice chancellor goes off the road, they need to have a very good justification for it.”

Mike also indicated that the ruling reflects the court’s philosophy that “no transaction is perfect, but not all transactions are actionable.”

Read “Dell Ruling Bridges Philosophical Gap in Delaware Appraisal Law.”


Source: Law360
Leave Drinker Biddle to Learn More