Legal Opinion
In re Pure Resources, Inc., Shareholders Litigation
Court of Chancery of Delaware
Decided September 27, 2002No. C.A. No. 19876PublishedCited by 85 opinions
1Opinion of the Court
OPINION
STRINE, Vice Chancellor.
This is the court’s decision on a motion for preliminary injunction. The lead plaintiff in the case holds a large block of stock in Pure Resources, Inc., 65% of the shares of which are owned by Unocal Corporation. The lead plaintiff and its fellow plaintiffs seek to enjoin a now-pending exchange offer (the “Offer”) by which Unocal hopes to acquire the rest of the shares of Pure in exchange for shares of its own stock.
The plaintiffs believe that the Offer is inadequate and is subject to entire fairness review, consistent with the rationale of Kahn v. Lynch…
2Cases cited29 opinions
- Aronson v. LewisSupreme Court of Delaware · 1984
- Unocal Corp. v. Mesa Petroleum Co.Supreme Court of Delaware · 1985
- Kahn v. Lynch Communication Systems, Inc.Supreme Court of Delaware · 1994
- Malone v. BrincatSupreme Court of Delaware · 1998
- Arnold v. Society for Savings Bancorp, Inc.Supreme Court of Delaware · 1994
24 more not listed; retrieve them via the Exa API.
3Cited by85 opinions
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- In re Orchard Enterprises, Inc.Court of Chancery of Delaware · 2014
- In re MFW Shareholders LitigationCourt of Chancery of Delaware · 2013
- Chen v. Howard-AndersonCourt of Chancery of Delaware · 2014
- In Re Netsmart Technologies, Inc. Shareholders LitigationCourt of Chancery of Delaware · 2007
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