Gaffin v. Teledyne, Inc.

VEASEY, Chief Justice:

This is an appeal from a decision of the Court of Chancery awarding damages in the amount of $1 per share to the plaintiff class (the “class”) arising from alleged equitable fraud in connection with the repurchase offer of defendant, Teledyne Inc. (“Teledyne”) for its own common stock. The class appeals from that which it claims to be an inadequate award. Teledyne has cross-appealed only insofar as the Court of Chancery has certified the plaintiff class and refused to decertify the same. Tele-dyne has not cross-appealed the damage award of $1 per share. The primary…