Global law firm White & Case LLP has achieved victory in the Delaware Court of Chancery for Anthem, Inc. in a trial against former merger partner Cigna, as the Court determined that Cigna breached the Merger Agreement and relieved Anthem of the obligation to pay the US$1.85 billion contractual termination fee. Anthem also defeated each of Cigna’s claims. The deal, which was announced in 2015, would have combined the country’s second-and third-largest commercial health insurers. This landmark victory comes after three years of hard-fought litigation between the parties, resulting in the longest decision ever issued by the Delaware Court of Chancery.
"This is a great result for Anthem in one of the most significant corporate litigation cases in recent years," said White & Case partner Glenn M. Kurtz, who co-led the matter.
"Anthem is a longstanding client that we have worked with on a number of M&A, antitrust and litigation matters," said White & Case partner Daniel Dufner, who co-led the merger. "We are thrilled with this result."
In addition to partners Glenn M. Kurtz and Daniel Dufner, the White & Case team was led by partners Claudine Columbres, Andrew Hammond, Michael Deyong and Gregory Starner in New York; partner Dana Foster in Washington, DC; and partner Heather Burke in Silicon Valley. The team also included counsel Jesse Green in Miami, and associates Camille Shepherd, Elizabeth Stainton, Vatsala Sahay, Taylor Allen, Nicholas Grace and Iris Greenquist in New York.
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