Mergers & Acquisitions Litigation
Clients with major transactions routinely face shareholder and other litigation seeking to block or enforce a deal. As experienced and business-savvy litigators, we are able to fend off many such cases, often breaking new legal ground in the process.
Delaware Supreme Court Clarifies That Plaintiffs Must Plead a Non-Exculpated Claim of Breach of Fiduciary Duty to Survive Motion to Dismiss, Even Where Entire Fairness Applies
Last week, the Delaware Supreme Court cleared up a confused area of the law and held that in a stockholder suit challenging an acquisition by a controlling stockholder, a plaintiff seeking monetary damages from independent directors who negotiated and approved the merger must allege with specificity that each director protected by an exculpatory charter provision breached their duty of loyalty or good faith, even where Delaware's stringent entire fairness standard of review applies to the court's evaluation of the transaction.
Paul, Weiss Successfully Settles Dispute Between EDF and Exelon Corporation in Regulatory Proceedings Before Maryland Public Service Commission
Paul, Weiss client Electricite de France S.A., (EDF), the largest nuclear energy company in the world, announced today that it reached a settlement with Exelon Corporation and Constellation Energy Group in a regulatory proceeding before the Maryland Public Service Commission (PSC) involving the proposed $8 billion merger of Exelon and Constellation. Paul, Weiss represented EDF in the hearings before the Public Service Commission, as well as in the settlement negotiations.