Steve Davidoff has a great post on the Delaware Chancery Court's long awaited opinion in the Selectica case. According to Steve,
The real significance of this decision is that Delaware courts will deferentially review N.O.L. [net-operating-loss] poison pill adoptions. But this will not be the “careful” review that the Moran decision promised back in 1985, but the more deferential posture that has evolved over the years under Unocal.
The full post can be read here. Not surprisingly, Wachtell has already published a memo celebrating the case: "The decision confirms that rights plans remain an important bulwark, notwithstanding continued attacks from academic and other quarters."
Comments