A recent Delaware Court of Chancery decision provided a nuanced analysis to explain its reasoning for not appointing a receiver for a cancelled LLC. In PXP Producing Co. LLC v. MitEnergy Upstream LLC, C.A. No. 2024-0668-MTZ (Del. Ch. June 26, 2025), the complaint also sought nullification of the cancellation on the grounds that the
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Chancery Approves Class Action Settlement of Claims Of Inadequate Disclosure in Tender Offer
By Francis Pileggi on
Posted in Court of Chancery Updates
MARIE RAYMOND REVOCABLE TRUST v. MAT FIVE LLC, (Del. Ch., Dec. 19, 2008), read opinion here. The Chancery Court in this 39-page decision approved a class action settlement regarding claims of inadequate disclosure in a tender offer. Included in the opinion is the court’s exercise of its own business judgment in connection with approving…