Delaware Chancery limits who can be expert witness

In re Dole Food Co., Inc. Stockholder Litigation, 2015 Del. Ch. LEXIS 47 (Feb. 27, 2015)

Can a corporation serve as a party's valuation expert? This question came in front of the Delaware Court of Chancery recently in the complex Dole stockholder litigation when Dole decided to designate the investment bank that served as its financial advisor in the context of a take-private merger as its expert witness.

The dissenting shareholders challenging the transaction objected. Their position was that only a human being qualified as an expert witness.

The Chancery's decision provides a thorough analysis of the applicable rules of evidence.

Find out more here.