In March 2014, Vice Chancellor Laster of the Court of Chancery of the State of Delaware issued an opinion finding Rural/Metro Corporation's lead financial advisor liable for aiding and abetting breaches of fiduciary duty by Rural's board of directors in connection with Rural's 2011 sale to an affiliate of Warburg Pincus LLC (the "Liability Opinion"). Vice Chancellor Laster has now set such financial advisor's liability to Rural's former stockholders at approximately US$75.8 million (In re Rural/Metro Corporation Stockholders Litigation, C.A. No. 6350-VCL (Del. Ch. Oct 10, 2014)). According to the Court, this amount represents 83% of the total damages that former Rural stockholders suffered.
Click here to download PDF.
This publication is provided for your convenience and does not constitute legal advice. This publication is protected by copyright.
© 2014 White & Case LLP