C & J Energy Services, Inc. v. City of Miami General Employees'

STRINE, Chief Justice:

I. INTRODUCTION

This is an expedited appeal from the Court of Chancery’s imposition of an unusual preliminary injunction. 1 City of Miami General Employees’ and Sanitation Employees’ Retirement Trust (“the plaintiffs”) brought a class action on behalf of itself and other stockholders in C & J Energy Services, Inc. (“C & J”) to enjoin a merger between C & J and a division of its competitor, Nabors Industries Ltd. (“Na-bors”). The proposed transaction is itself unusual in that C & J, a U.S. corporation, will acquire a subsidiary of Nabors, which is domiciled in Bermuda, but…