Plaintiff Challenges Going Concern Asset Valuation Premise Used in Solvency Opinion

Business Valuation UpdateVol. 3 No. 7
Legal and Court Case Update
July 1997
5411 Grocery Stores
445110 Supermarkets and Other Grocery Retailers (except Convenience Retailers)
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)

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