In re Dole Food Co. (Dole III)

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August 27, 2015

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2033 Canned Fruits, Vegetables, Preserves, Jams, and Jellies
311421 Fruit and Vegetable Canning
shareholder dissent/oppression
damages, expert testimony, fair value, breach of fiduciary duty, discounted cash flow (DCF), merger, statutory appraisal, projections
In re Dole Food Co. (Dole III)
2015 Del. Ch. LEXIS 223
US
State Court
Delaware
Court of Chancery
Al Garner, Lazard Frères & Co. LLC (financial advisor to committee); Kevin F. Dages (plaintiffs); unknown (defendants)
Laster

Summary

In joint fairness/statutory appraisal action, Chancery finds defendants’ fraud defeated financial advisor’s ability to produce reliable DCF, notwithstanding advisor’s “heroic” efforts to create “the most credible and reliable projections in the case.”
In re Dole Food Co.
PDF, Size: 689 KB

See Also

Chancery Lauds Advisor’s ‘Heroic’ Efforts at Credible DCF

Legal and Court Case Update
November 2015

In joint fairness/statutory appraisal action, Chancery finds defendants’ fraud defeated financial advisor’s ability to produce reliable DCF, notwithstanding advisor’s “heroic” efforts to create “the most credible and reliable projections in the case.”

This article also appears in:
BVR Guide to Management Projections and Business Valuation: Analysis and Case Law