In re JCC HOLDING CO., INC. Shareholders Litigation
Court of Chancery of Delaware New Castle County.https://leagle.com/images/logo.png
Submitted September 10, 2003.
Decided September 25, 2003.
Attorney(s) appearing for the Case
Carmella P. Keener, Rosenthal, Monhait, Gross & Goddess, P.A., Wilmington, Delaware; Joshua Rubin, and Richard Margolies, Abbey Gardy, LLP, New York, New York; Gregory Egleston, Bernstein Liebhard & Lifshitz, LLP, New York, New York; Jonathan Stein, and Stuart Davidson, Cauley Geller Bowman & Rudman, LLP, Boca Raton, Florida, for Plaintiffs.
Kevin G. Abrams, Thomas A. Beck, J. Travis Laster, and Lisa M. Zwally, Richards, Layton & Finger, P.A., Wilmington, Delaware; Charles W. Cox, II, Latham & Watkins LLP, Los Angeles, California, for Defendants Stephen H. Brammell, Gary W. Loveman, Charles Teamer, Sr., Eddie N. Williams, Harrah's Entertainment, Inc., Harrah's Operating Company, Inc., Satchmo Acquisition, Inc., and JCC Holding Company.
Robert K. Payson, Michael A. Pittenger, and John M. Seaman, Potter, Anderson & Corroon LLP, Wilmington, Delaware, for Defendants Paul D. Debban, Preston Smart, and Christopher Lowden.
Court of Chancery of Delaware New Castle County.
OPINION
STRINE, Vice Chancellor.
In this case, prospective class plaintiffs challenge the fairness of a cash-out merger between a corporation that owns a casino in New Orleans, JCC Holding Company ("JCC"), and its controlling stockholder, Harrah's. Because Harrah's owns a majority of JCC's shares, the merger is subject to the standard of review set forth in Kahn v. Lynch Communication Systems, Inc.
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