Plaintiff Challenges Going Concern Asset Valuation Premise Used in Solvency Opinion

Business Valuation UpdateVol. 3 No. 7
Legal and Court Case Update
July 1997

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5411 Grocery Stores
445110 Supermarkets and Other Grocery (except Convenience) Stores
breach of fiduciary duty
disclosure, recapitalization, tender offer
Klang v. Smith's Food & Drug Centers, Inc. (I)
1997 Del. Ch. LEXIS 73
May 13, 1997
US
State Court
Delaware
Court of Chancery
Houlihan Lokey Howard & Zukin (solvency opinion)
Chandler

Summary

Plaintiffs sought rescission on a series of transactions including a merger, stock repurchase and certificate amendment.

See Also

Klang v. Smith's Food & Drug Centers, Inc. (I)

Full Text of Court Cases
May 13, 1997

Plaintiffs sought recission on a series of transactions including a merger, stock repurchase and certificate amendment on theory that directors breached fiduciary duty.