Court of Chancery of Delaware· 10/7/1998

In Re First Interstate Bancorp Consolidated Shareholder Litigation

Citations

729 A.2d 851
1998 Del. Ch. LEXIS 185
1998 WL 731600

How courts have described this case

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

granting a motion to dismiss upon rejecting conclusory allegations that side transactions affected the terms of a merger agreement
“The doctrine of judicial estoppel precludes a party “from asserting in a legal proceeding, a position inconsistent with a position previously taken by him in the same or in an earlier proceeding.”
“Upon the effective date of a merger or consolidation, all assets of the merged corporation, including any causes of action that may exist on its behalf, pass to the surviving corporation by operation of law.”
“Delaware law is well-settled that claims arising from transactions involving corporate assets that allegedly operate to reduce the consideration received by stockholders in a merger are, in the absence of [special] circumstances . . . derivative in nature.”

Source: CourtListener parenthetical corpus (CC0).

Judges: Lamb

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Cited by

21 cases in this archive cite this case; the 20 most cited are listed.

Cites

26 cases in this archive are cited by this case; the 20 most cited are listed.

Other cases named In Re First Interstate Bancorp Consolidated Shareholder Litigation

1 other CourtListener record shares this case name.

In Re First Interstate Bancorp Consolidated Shareholder Litigation
Court of Chancery of Delaware· 1999-08-26· cited 21×

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