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

Business Valuation UpdateVol. 21 No. 11
Legal and Court Case Update
November 2015

Access the Full Article

This article is available with a subscription to any of these products:
Already a subscriber?  Login
This article is also available for purchase. (2,454 words)   Add to Cart >>
Need help? Contact us:
1-503-479-8200 ext 2 or sales@bvresources.com
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
August 27, 2015
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.”

See Also

In re Dole Food Co. (Dole III)

Full Text of Court Cases
August 27, 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.”