Delaware Supreme Court Judge Boos Chancery's Option Valuation Case Analysis

Cdx Holdings, Inc. v. Fox, 2016 Del. LEXIS 334 (June 6, 2016)

Almost a year ago, the Delaware Court of Chancery issued a noteworthy decision in a case featuring a medical science company that went through a controversial merger. 

Siding with option holders that claimed the company’s board of directors allowed for the undervaluation of the plaintiffs’ shares, the court scorned the performance of the financial firms advising on the transaction. Some of the valuation work represented a “new low” in terms of “motivated” valuations, the Chancery said.

Now a dissenting judge on the Delaware Supreme Court, where the case was on appeal, has issued a full-frontal attack on the Chancery's legal and fact analysis.

Find out more here.