The Delaware Court of Chancery, in In re Baker Hughes, Inc. Merger Litigation, C.A. No. 2019-0638-AGB (consol.), memo. op. (Del. Ch. Oct. 27, 2020), dismissed claims defendant officers who stood to receive change-in-control payments through a merger breached their fiduciary duties by approving the transaction but allowed disclosure claims against one defendant to stand.
NEW: Morris James discusses the decision in Chancery Addresses Fiduciary Duty Claims Related To Financial Statements Created For Merger.
DealLawyers discusses the decision in Disclosure: Del. Chancery Leaves CEO Holding the Bag for Alleged Proxy Deficiencies.
Frank Reynolds discusses the decision in Chancery says only Baker Hughes CEO is still on the hook for disclosures in merger with GE Oil & Gas.
Reuters discusses the decision in Delaware court axes Baker Hughes shareholder claims over GE merger.