Injunction Denied in CNX/CONSOL Merger

Posted by msch on May 27, 2010 1:38:00 PM

Vice Chancellor J. Travis Laster

Vice Chancellor J. Travis Laster denied a minority shareholder request to enjoin the controlling shareholders' acquisition of the minority shareholders' shares.  The Court concluded that although the structure of the transaction could be reasonably questioned, the availability of monetary damages would provide an adequate remedy to the plaintiffs.

The Delaware Corporate and Commercial Litigation Blog has all the details. 

Court video of the CNX/CONSOL injunction hearing is available on CVN.

Topics: Securities