SmartBrief
Confirm favorite deletion?
Business Organizations Keyed to Allen
In re PLX Technology Inc. Stockholders Litigation
Citation:
2018 WL 5018535 (Del. Ch. Oct. 16, 2018).Facts
PLX was in the business of developing and selling integrated circuits. In 2011, PLX began pursuing the sale of its company and worked with Deutsche Bank to explore a sale. During this time, PLX stock price fell after 5% of its shares were acquired by activist hedge fund, Potomac. Thereafter, Potomac’s co-managing member, Eric Singer, joined PLX’s Board of Directors. Singer continuously advocated for sale of the company.
On December 19, 2013, Thomas Krause, a Vice President of Avago, let Deutsche Bank know that (after it closed on another transaction) it would be interested in pursuing a deal with PLX at a rate of $6.50 per share. Deutsche Bank informed Singer of Krause’s tip, but neither party informed the rest of PLX’s Board. In May 2014, Deutsche Bank again contacted Singer, who had dinner with Krause to discuss price and moving quickly (also not disclosed). On June 2, 2014, PLX and Avago executed an exclusivity agreement for a deal at $6.50 per share. The Board met on June 22 to approve recommendations to move forward with the deal and the deal closed on August 12.
Only StudyBuddy Pro offers the complete Case Brief Anatomy*
Access the most important case brief elements for optimal case understanding.
*Case Brief Anatomy includes: Brief Prologue, Complete Case Brief, Brief Epilogue
- The Brief Prologue provides necessary case brief introductory information and includes:
Topic:
Identifies the topic of law and where this case fits within your course outline.Parties:
Identifies the cast of characters involved in the case.Procedural Posture & History:
Shares the case history with how lower courts have ruled on the matter.Case Key Terms, Acts, Doctrines, etc.:
A case specific Legal Term Dictionary.Case Doctrines, Acts, Statutes, Amendments and Treatises:
Identifies and Defines Legal Authority used in this case.
- The Case Brief is the complete case summarized and authored in the traditional Law School I.R.A.C. format. The Pro case brief includes:
Brief Facts:
A Synopsis of the Facts of the case.Rule of Law:
Identifies the Legal Principle the Court used in deciding the case.Facts:
What are the factual circumstances that gave rise to the civil or criminal case? What is the relationship of the Parties that are involved in the case.Issue(s):
Lists the Questions of Law that are raised by the Facts of the case.Holding:
Shares the Court's answer to the legal questions raised in the issue.Concurring / Dissenting Opinions:
Includes valuable concurring or dissenting opinions and their key points.Reasoning and Analysis:
Identifies the chain of argument(s) which led the judges to rule as they did.
- The Brief Prologue closes the case brief with important forward-looking discussion and includes:
Policy:
Identifies the Policy if any that has been established by the case.Court Direction:
Shares where the Court went from here for this case.
Topic Resources
Topic Outline
Corporations