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IN RE LNR PROPERTY CORP. SHAREHOLDERS LIT.

C.A. No. 674-N.

896 A.2d 169 (2005)

In re LNR PROPERTY CORP. SHAREHOLDERS LITIGATION.

Court of Chancery of Delaware, New Castle County.

Decided: November 4, 2005.

Revised: December 14, 2005.

Attorney(s) appearing for the Case

Norman M. Monhait, Rosenthal, Monhait, Gross & Goddess, P.A., Wilmington, DE; Pamela S. Tikellis, Chimicles & Tikellis, L.L.P., Wilmington, DE; Merrill G. Davidoff, Glen L. Abramson, Michael C. Dell' Angelo, Berger & Montague, P.C., Philadelphia, PA; Jeffrey G. Smith, Demet Basar, Gustavo Bruckner, Wolf Haldenstein Adler Freeman & Herz, L.L.P., New York City; Richard Brualdi, Sue Lee, The Brualdi Law Firm, New York City, for the Plaintiffs.

Kenneth J. Nachbar, Morris Nichols Arsht & Tunnell, Wilmington, DE; Marty Steinberg, Jeffrey W. Gutchess, Hunton & Williams, L.L.P, Miami, FL; Michael D. Goldman, Stephen C. Norman, Potter Anderson & Corroon, L.L.P., Wilmington, DE; Howard G. Kristol, Matt Neiderman, Duane Morris, L.L.P., Wilmington, DE; James B. Weidner, Clifford Chance US, L.L.P., New York City; John R. Roellke, Jeffrey H. Drichta, Clifford Chance US, L.L.P., Washington, DC, for the Defendants.

MEMORANDUM OPINION AND ORDER

LAMB, Vice Chancellor.

I.1

This is a purported class action against a Delaware corporation, its former directors, and its former controlling shareholder, alleging breach of fiduciary duty in connection with a cash-out merger pursuant to which the controlling stockholder and other members of management exercised the right to purchase a 25% equity stake in the surviving entity...

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