D.E. Shaw Laminar Portfolios v. Archon Corporation

MEMORANDUM *

We consolidated these appeals because they turn on a common issue — namely, the proper method for calculating accrued dividends on shares of preferred stock issued by Defendant, Archon Corporation. Plaintiffs are investment groups that acquired Archon stock before it was redeemed in 2007. They dispute Defendant’s calculation of the redemption price of their shares, a substantial portion of which consists of accrued dividends.

We review de novo a district court’s summary judgment ruling. Ferguson ex rel. McLeod v. Coregis Ins. Co., 527 F.3d 930, 932 (9th Cir.2008) (per curiam).…