In Re Dollar Thrifty Shareholder Litigation

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that the evidence showed that the 15 board did not have a conflict of interest that gave them a motive to avoid achieving value maximization for the stockholders
• noting that a company’s investment bankers working with private equity bidders prior to a sales process was “one of the facts of business life”
• noting that when applying enhanced scrutiny, “the court seeks to assure itself that the board acted reasonably, in the sense of taking a logical and reasoned approach for the purpose of advancing a proper objective”
• noting that it is “one of the facts of business life that most of the top, if not all, banks have relationships with the major private equity firms.”
• finding that the target board’s use of no-shop, matching rights, and termination fee provisions were reasonable even though the company had agreed to deal exclusively with the buyer without conducting a pre-signing market check
• explaining that an investment banker having a business relationship with a counterparty “is evidence of one of the facts of business life—that most of the top, if not all, banks have relationships with the major private equity firms”

Source: CourtListener parenthetical corpus (CC0).