The Delaware Court of Chancery, in Robert A. Davidow v. LRN Corp., et al., C.A. No. 2019-0150-MTZ, memo. op. (Del. Ch. Feb. 25, 2020), declined to dismiss claims that corporate insiders breached fiduciary duties of disclosure in connection with a coercive self-tender offer at an unfairly low price, through which the insiders obtained voting control of the company, and entered a merger pursuant to which they received a much higher price for their shares.
NEW: Morris James discusses the decision in Chancery Finds Pleadings Sufficient to Support Claim that a Corporate Self-Tender Offer was Coercive.
K&L Gates discusses the decision in Directors Breach Fiduciary Duties in Coercive Self-Tender.
$$$ Law360 discusses the decision in Supposedly Unfair Stock Deal Heads Toward Chancery Trial.