Investors Tell Del. Justices Tech Co. Low Balled Appraisal
In an article published on Law360 discussing Sadis & Goldberg’s counsel for Manichaean Capital LLC and four other investors, Sam Lieberman (Partner) was quoted.
"They can't defend the calculations here. Credibility was a key point in this case." Samuel J. Lieberman of Sadis & Goldberg LLP, counsel for Manichaean Capital LLC and four other investors, said while arguing before the full five-member court.
"When you have a situation of a party backdating information, telling various different stores, when a vice chancellor looks at the record and sees a valuation consistent with the [company's own] financial adviser's, it's not an abuse of discretion" to adopt a different and higher share value, Lieberman said.
