The Delaware Supreme Court affirmed Monday a lower court’s dismissal of claims that Anaplan Inc.'s former senior leaders cost investors $400 million by awarding themselves equity grants that threatened the software company’s roughly $10 billion sale to Thoma Bravo LP.
The opinion preserves a standard for reviewing shareholder approval in merger cases involving fiduciary breach claims set by the high court in 2015.
An attorney for Anaplan’s ex-leaders cautioned the justices in Jan. 22 oral arguments against rewriting a 2015 Delaware Supreme Court decision that said investor approval of a merger defeats virtually all post-closing legal challenges, except ones involving ...
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