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ARTICLE · 26 JUNE 2019

Inside The Courts – An Update From Skadden Securities Litigators

Skadden, Arps, Slate, Meagher & Flom LLP
Skadden, Arps, Slate, Meagher & Flom LLP
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This quarter's issue includes summaries and associated court opinions of selected cases principally decided between February and April 2019.

United KingdomCorporate/Commercial Law

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)
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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.

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