1. Delaware Court Finds Flaws By Board in Sale of VC-Backed Company

    Delaware Court Finds Flaws By Board in Sale of VC-Backed Company

    The Delaware court of chancery found recently that the sale of venture-backed Trados Inc., for a purchase price that was less than the sum of the preferred stock’s preferences plus the payments required under a management incentive plan, raised conflicts that triggered the court’s “onerous” entire fairness review standard. The court criticized the process followed by the company’s directors...

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