Legal Opinion
The Matter of Kenneth Cole Productions, Inc., Shareholder Litigation , Erie County Employees Retirement System v. Michael J. Blitzer
New York Court of Appeals
Decided May 5, 2016No. 54PublishedCited by 20 opinions
1Opinion of the Court
OPINION OF THE COURT
Stein, J.
In this shareholder class action challenging a going-private merger, we adopt the standard of review recently announced by the Delaware Supreme Court in Kahn v M & F Worldwide Corp. (88 A3d 635, 644-645 [Del 2014] [MFW]). Specifically, in reviewing challenges to going-private mergers, New York courts should apply the business judgment rule as long as certain shareholder-protective conditions are present; if those measures are not present, the entire fairness standard should be applied. Applying the MFW standard to the case before us, we affirm the dismissal of the…
2Cases cited12 opinions
- Auerbach v. BennettNew York Court of Appeals · 1979
- Kahn v. Lynch Communication Systems, Inc.Supreme Court of Delaware · 1994
- Marx v. AkersNew York Court of Appeals · 1996
- Alpert v. 28 Williams Street Corp.New York Court of Appeals · 1984
- Kahn v. Tremont Corp.Supreme Court of Delaware · 1997
7 more not listed; retrieve them via the Exa API.
3Cited by20 opinions
- Bonanni v. Horizons Invs. Corp.Appellate Division of the Supreme Court of the State of New York · 2020
- Murphy v. Department of Educ. of the City of New YorkAppellate Division of the Supreme Court of the State of New York · 2017
- U.S. Small Bus. Admin. Funding Corp. v. FeinsodDistrict Court, E.D. New York · 2018
- Polite v. Marquis Marriot HotelAppellate Division of the Supreme Court of the State of New York · 2021
- In re Soundview Elite Ltd.United States Bankruptcy Court, S.D. New York · 2018
15 more not listed; retrieve them via the Exa API.