This quarter's issue includes summaries and associated court
opinions of selected cases principally decided between February and
April 2019.
Appraisal
Delaware Supreme Court Reverses Court of Chancery's
Reliance on Unaffected Market Price as Best Indicator of Appraisal
Value
Verition Partners Master Fund Ltd. v. Aruba Networks,
Inc., Case No. 368, 2018 (Del. Apr. 16, 2019)
Click here to view the opinion.
The Delaware Supreme Court issued a per curiam decision
reversing the Court of Chancery's determination that the fair
value of Aruba Networks, Inc. was $17.13 — reflecting the
company's 30-day average unaffected market price prior to
announcement of its acquisition by Hewlett-Packard Company —
and directing that the Court of Chancery enter a final judgment for
petitioners in the amount of $19.10 per share, which represented
the merger price minus synergies as estimated by Aruba.