2nd Circuit: Shareholders Not Entitled To Dissenters' Rights In Merger Deal

2nd Circuit: Shareholders Not Entitled To Dissenters' Rights In Merger Deal

NEW YORK - A federal district court properly dismissed a shareholder's state and federal securities law claims against a company for failure to provide shareholders dissenter's rights as part of a merger deal because, under Nevada law, the company qualified for an exemption to Nevada's dissenters' rights statute, a Second Circuit U.S. Court of Appeals panel ruled June 13 (Tiberius Capital LLC v. PetroSearch Energy Corp., et al., No. 11-1745, 2nd Cir.). Subscribers may view the summary order available within the full article.

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