Delaware High Court Upholds Appraisal Ruling That Bucked Trend
Former SourceHOV Holdings Inc. investors secured the 12% price premium they won in their lawsuit over the merger that created Exela Technologies Inc., when Delaware’s top court Friday upheld the only recent Chancery Court decision in favor of a post-deal appraisal petition.
The state’s justices affirmed the appraisal ruling in a one-page order, saying they had reached the same conclusion as Vice Chancellor Joseph R. Slights III “on the basis of and for the reasons stated” in his earlier opinion.
The January 2020 decision in favor of the former SourceHOV equity holders bucked a trend that has had Delaware court.
