Andaloro v. PFPC Worldwide, Inc.

830 A.2d 1232 (2003)

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Andaloro v. PFPC Worldwide, Inc.

Delaware Chancery Court
830 A.2d 1232 (2003)

Facts

PFPC Worldwide, Inc. (PFPC) (defendant) underwent a merger in which it was the surviving entity. John Andaloro and Robert Perslweig (plaintiffs) were PFPC executives before the merger. Andaloro and Perslweig alleged that they did not receive adequate value for their stock options. Andaloro and Perslweig brought an appraisal action under Delaware General Corporations Law (DGCL) § 262, which gave stockholders in a merger the right to obtain an appraisal of their shares in the Delaware Chancery Court. PFPC moved for partial summary judgment.

Rule of Law

Issue

Holding and Reasoning (Strine, J.)

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