Merger Prospectus Criticized for Misleading Discount Rate and Management Projections

Business Valuation UpdateVol. 16 No. 12
Legal and Court Case Update
December 2010

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8299 Schools and Educational Services, NEC
611710 Educational Support Services
shareholder dissent/oppression
Maric Capital Master Fund, Ltd. v. Plato Learning, Inc.
2010 WL 1931084 (Del. Ch.)
May 13, 2010
US
State Court
Delaware
Court of Chancery
Blake Rohrbacker, Fill F.Stute, Gregory P.Williams, J. Brandon Walker, Joseph F.Rice, Justin P.Krypel, Leif T.Simonson, Norman M.Monhait, P. Bradford deLeeuw, Rebecca P.Merritt, Wendy J.Wildung, William S.Norton
Craig Hallum (defendants)
Strine

Summary

Delaware Chancery enjoins merger based on flawed proxy statement, including overstated discount rate in valuation and selectively chosen cash flow projections.

See Also

Maric Capital Master Fund, Ltd. v. Plato Learning, Inc.

Full Text of Court Cases
May 13, 2010

Delaware Chancery enjoins merger based on flawed proxy statement, including overstated discount rate in valuation and selectively chosen cash flow projections.