Delaware High Court Affirms Class Rep In Suit Over Merger

Delaware High Court Affirms Class Rep In Suit Over Merger

DOVER, Del. - The Delaware Court of Chancery did not abuse its discretion when it certified New Orleans Employees' Retirement System (NOERS) as class representative in an action challenging the acquisition of Celera Corp. by Quest Diagnostics Inc., despite the fact that NOERS sold its stock before the completion of the merger, the Delaware Supreme Court ruled Dec. 27 (In Re Celera Corporation Shareholder Litigation, No. 212, 2012, Del. Sup.; 2012 Del. LEXIS 658).

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