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Do We Have a Quorum?

Cooley M&A

While ambiguity is often revered in our entertainment, it is certainly less welcome in legal writing, which is why it’s comforting to read a Delaware opinion (for what else would us lawyers do in our spare time!) In a nutshell, under Section 141(f) of the DGCL, a board may act by unanimous written consent, as long as there is a proper quorum.

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Keeping Up With M&A Case Law – Spotlight on Recent Delaware Decisions

Cooley M&A

The mergers & acquisitions market may wax and wane, but one thing in M&A is consistent from year to year: The Delaware courts issue opinions that impact M&A dealmaking. This case-by-case standard has caused years of ambiguity – and corresponding reasoned legal opinions! Alexy (Del.

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Appraiser Newsroom - Untitled Article

Appraiser Newsroom

With over 15 years’ experience as a market analyst and journalist, Avi’s research reports and opinion pieces have a loyal following in both the diamond and jewelry trade and the investment community. Gave the Rolex section for the first wristwatch only educational seminar for NAWCC.

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Renegotiating Deal Terms? Delaware Reminds Fiduciaries of Unremitting Duties

Cooley M&A

Section 141(a) of the Delaware General Corporation Law imbues boards with the unique authority to manage or direct the affairs of a corporation. Contributors. In Captain Phillips , a pirate hijacks a ship and turns to the captain and says (in what is an amazing improvised line) “Look at me, I’m the captain now.” [1] Haley (Del.

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Whataday for Special Committees: Salladay v. Lev Clarifies Committee Formation Requirements in Non-MFW Scenarios

Cooley M&A

When the special committee was reconstituted for purposes of considering the challenged transaction, the committee hired a new financial advisor who resigned the very next day, after which the committee hired a third financial advisor who ultimately rendered a fairness opinion in connection with the transaction. Contributors.

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Have Your Cake, and Closing Too: Invoking Prevention Doctrine, Delaware Chancery Court Grants Seller’s Request for Specific Performance in COVID-Related M&A Dispute

Cooley M&A

Chancellor McCormick’s opinion in Snow Phipps Group, LLC, et al. Parties often include language mirroring the prevention doctrine in the termination section of a purchase agreement (e.g., Contributors. KCake Acquisition, Inc., Transaction Background: Not Selling Like Hotcakes. Caitlin Gibson. Barbara Borden.

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Apples, Oranges and Lemonade: Pursuing Multiple Strategic Alternatives in the Public Company Boardroom

Cooley M&A

Contributors Jamie Leigh Barbara Borden Jason Kent Chad Mills Ben Beerle Kevin Cooper Bill Roegge Cullen Speckhart Olya Antle Matan Neuman Careful observance of corporate formalities is critical to withstanding challenges to a strategic process.

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