Delaware High Court Weighs AstraZeneca Shareholder Appeal (1)

Delaware justices weighed during oral arguments Wednesday whether a former Viela Bio Inc. shareholder’s allegations that AstraZeneca Plc threatened to abandon the biotech firm unless it was quickly acquired are sufficient.

“Refine for me the threat that you’re relying on,” said Chief Justice Collins J. Seitz Jr. during the 50-minute interaction with just three inquiries from the panel of Delaware Supreme Court justices.

Attorney David Knotts, representing former Viela shareholder Stephen Sciannella, responded that AstraZeneca threatened to sell its 26.7% block of Viela shares and end its supporting agreements with the company, putting the Viela board in a situation where ...