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Attorneys – Fees – Corporate Merger – Supplemental Disclosures – Reduced Award
The claims in this challenge to a corporate merger could have been adequately and effectively prosecuted by North Carolina counsel experienced in complex litigation of this type. The materiality of the supplemental disclosures made as a result of this lawsuit is apparent but not so obvious as to justify an award at the highest end […]
Corporate – Merger – Escrow Account Dispute – Unfair Trade Practices – Commerce
Tillery Environmental LLC v. A&D Holdings, Inc. (Lawyers Weekly No. 020-074-17, 15 pp.) (Louis Bledsoe III, J.) 2017 NCBC 67 Holding: Plaintiff, a former stockholder in a pre-merger company, alleges that the defendant-successor entities have mismanaged the merged company and that defendants are now – 18 months post-merger – improperly attempting to strong-arm the pre-merger […]
Attorneys – Fee Award – Civil Practice – Class Action Settlement – Corporate Merger – Disclosures
In re Pike Corp. Shareholder Litigation (Lawyers Weekly No. 15-15-0997, 16 pp.) (James Gale, C.J.) 2015 NCBC 90 Holding: After the settlement of a consolidated class action and based on the recent ruling in Ehrenhaus v. Baker (Ehrenhaus II), Nos. COA14-1201, COA14-1083 (N.C. App. Sept. 15, 2015) (Lawyers Weekly No. 15-07-0884) and a reasonableness review, […]
Dollar General goes hostile in bid for rival
(AP) — Dollar General is going hostile with its $9.1 billion bid for Family Dollar after its rival repeatedly rejected previous offers. The discount chain has commenced an open offering to investors of Family Stores Dollar Inc. for $80 per share in cash, the same offer that was rejected last week by the company’s board. […]
Contract – Corporate Merger – Brothers’ Companies – Tort/Negligence – Fiduciary Duties
Olympus Managed Health Care, Inc. v. American Housecall Physicians, Inc. The parties’ early agreements – such as their letter of intent – all contemplated a formal merger agreement. The parties’ attorneys collected signatures and held them in escrow pending the scheduled closing. When plaintiffs postponed the merger the day before the scheduled closing, the merger agreement had [...]
Civil Practice – Class Action – Corporate Merger – Settlement – Standard of Review – First Impression — Attorneys’ Fees
Ehrenhaus v. Baker We adopt the “fairness, reasonableness and adequacy” standard for determining whether a class action settlement should be approved. We affirm the trial court’s approval of the class action settlement, but we reverse the award of attorneys’ fees and remand for additional findings.
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