Third Point LLC v. Ruprecht, C.A. No. 9469-VCP (Del. Ch. May 2, 2014).

This important 64-page opinion has been the subject already of so much extensive commentary by professors and practitioners that instead of repeating the excellent analysis already performed,  I refer the reader to samples below of that existing commentary. I will state in the shortest terms that this opinion is necessary reading for those who want to know the latest iteration of Delaware law on poison pills.  In particular, this opinion upheld the use of a poison pill to thwart an activist investor who sought to acquire more than 10% of the noted auction house, Sotheby’s.

By way of example only, among the voluminous learned reviews of the case that have already been published, I refer the reader to one of the nation’s corporate law professors most often cited by Delaware Courts, Professor Stephen Bainbridge, who posted several scholarly commentaries on this case here, here and here.