Posts Tagged ‘liquidation preference’

Delaware case on liquidation preference

January 23, 2012

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