The Delaware Court of Chancery, in Fortis Advisors, LLC v. Shire US Holdings, Inc., C.A. No. 2018-0933-JRS, memo. op. (Del. Ch. Feb. 13, 2020), dismisses selling stockholders’ claims asserting information rights under a Merger Agreement as barred on res judicata grounds by a prior ruling seeking contingent compensation under the Agreement, finding the claims arose out of the same transaction.
NEW: K&L Gates discusses the decision in Chancery Court Finds That Res Judicata Bars Plaintiff’s Demand For Information Rights Under Merger Agreement.
Morris James discusses the decision in Chancery Holds That Res Judicata Precludes Plaintiff’s Claim for Information Rights Under Merger Agreement.
$$$ Law360 discusses the decision in Fortis Loses 2nd Bid For $425M Post-Merger Drug Payout.