Harcum v. Lovoi, C.A. No. 2020-0398-PAF (Del. Ch. Jan. 3, 2022) - In Harcum, the Delaware Court of Chancery dismissed all claims brought in a stockholder suit alleging.
In a 77-page Memorandum Opinion issued by Vice Chancellor Fioravanti in Cindy Harcum v. John Lovoi et al., C.A. No. 2020-0398-PAF (Del. Ch. Jan. 3, 2022), the Delaware Court of Chancery.
Delaware Chancery Court has rejected all counts and claims in a stockholder suit seeking damages for alleged fiduciary duty breaches in connection with the sale of Roan Resources Inc. for more than $1 billion, citing in part failures to identify actionable breaches or conflicted acts.
Delaware Chancery Court has rejected all counts and claims in a stockholder suit seeking damages for alleged fiduciary duty breaches in connection with the sale of Roan Resources Inc. for more than $1 billion, citing in part failures to identify actionable breaches or conflicted acts.
Attorneys for oil and gas venture Roan Resources Inc. urged a Delaware vice chancellor on Tuesday to toss a shareholder suit challenging its $1 billion sale to a private equity-backed buyer, saying no better deal was available and stockholders overwhelmingly approved.