Proposes changes to entire fairness standard

• Wouldn't apply to mergers where controlling stockholder obtains approval from

• Independent directors, and
• Minority shareholders

• Business judgment rule would instead apply
• Would cut back on Kahn v Lynch

Dicta from Vice Chancellor Strine

• Unnecessary to his decision in Cox
• Still, opinion is expected to be influential

Opinion - Vice Chancellor Strine 

Hyperlinked Index

Introduction I

Facts II

• Plaintiffs rush to court II.A
• Deal and settlement II.B
• Settlement presented to court II.C

Objections to plaintiffs' fees III

Analysis IV

• Mergers with controlling stockholders IV.A
• Criticism of Lynch IV.B
• Siliconix IV.C
• Plaintiffs expert counter attack IV.D

• Lynch transactions v Siliconix transactions IV.D.1
• How much does litigation contribute IV.D.2

• Courts distillation of the expert input IV.E

Plaintiffs' attorney fees V

• Does Chrysler v Dann Govern V.A
• What fee is appropriate under Sugarland?  V.B

Reforming Lynch  VI

ConclusionVII

Law firms

• Debevoise 6.14.05
• Fried Frank 6.15.05
• Latham & Watkins 7.18.05
• Jones Day Jan 06

Delaware General Corporation Law