Recent decision by Delaware Superior Court where investor loses claim for liquidation preference. Case involves a multi-step merger where the conceptual timing of conversion of preferred to common (and loss of preference) and the merger was complicated. Very fact-specific but worth a read for anyone drafting complex charters.
http://courts.delaware.gov/opinions/download.aspx?ID=157800
Advertisement
Tags: delaware coprporate law, liquidation preference, merger, venture capital
