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Under Delaware law, a board of directors entering into a change of control transaction involving the sale of a company must secure the best value reasonably attainable for the company's stockholders
On April 11, 2012, Delaware Vice Chancellor Nobel denied motions to dismiss complaints that challenged a merger which is alleged to have been intentionally entered into before positive earnings were released so that stockholders would view the merger terms more favorably than if they were aware of the positive earnings report
