Delaware case on liquidation preference

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

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One Response to “Delaware case on liquidation preference”

  1. phylissmalone81117 Says:

    If indeed that is what’s occurred here, and then the same organization the alleged leaker is part of just withdraws the documents right back, what next? Click https://twitter.com/moooker1

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