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Court Finds Financial and Legal Advisors Not Independent
Plaintiff Alan Kahn appealed the decision the Court of Chancery handed down that approved the purchase of 7.8 million shares of NL Industries by Tremont Corp.
Kahn v. Tremont
At issue is whether the court erred on its burden of proof allocation regarding the entire fairness of a purchase transaction and whether the circumstances surrounding the purchase of NL Industries indicate that the process was tainted.