Chancery Denies Expedited Proceedings for Challengers of Dell Deal

In re Dell Inc. Shareholder Litigation, No. 8329, hearing transcript released (Del. Ch. June 27, 2013).

In a ruling from the bench, the Court of Chancery denied a request for expedited proceedings requested by challengers of the pending deal involving Dell. The plaintiffs failed to convince the court that they had a “colorable claim” that the board of Dell breached its fiduciary duty in connection with the going private deal. Frank Reynolds of Thomson Reuters provides a helpful summary of the court’s reasoning based on the transcript. As an added bonus, the post provides scholarly insights from Prof. Larry Hamermesh.