From our private database of 30,500+ case briefs...
In re MFW Shareholders Litigation
Delaware Court of Chancery
67 A.3d 496, 2013 WL 2436341 (Del. Ch. 2013)
Ronald Perelman (defendant) owned MacAndrews & Forbes Holdings Inc. (MacAndrews & Forbes) (defendant). MacAndrews & Forbes held 43 percent of M & F Worldwide Corp. (MFW) stock and offered to buy the rest of MFW's stock. MacAndrews & Forbes said upfront that any going-private transaction would be conditioned on the approval of an independent special committee and a vote of a majority of the minority shareholders. An independent special committee was formed. The committee retained its own legal and financial advisors. It met eight times to negotiate with MacAndrews & Forbes and got the price raised a significant amount. The merger was approved by the special committee and an informed vote of a majority of the minority MFW shareholders. There was no failure of disclosure. MFW's public shareholders (plaintiffs) challenged the transaction, urging the application of the entire fairness standard. The defendants moved for summary judgment, arguing that the standard of review should be the business judgment rule.
Rule of Law
Holding and Reasoning (Strine, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 551,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.Unlock this case briefRead our student testimonials
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students.Learn about our approachRead more about Quimbee
Here's why 551,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 30,500 briefs, keyed to 984 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.