IN RE DOLLAR THRIFTY SHAREHOLDER LITIGATION

Cons. C.A. No. 5458-VCS.

14 A.3d 573 (2010)

In re DOLLAR THRIFTY SHAREHOLDER LITIGATION.

Court of Chancery of Delaware.

Decided: September 8, 2010.


Attorney(s) appearing for the Case

Jay W. Eisenhofer, Esquire , Michael J. Barry, Esquire , Stephen G. Grygiel, Esquire , Grant & Eisenhofer P.A., Wilmington, Delaware; Joel Friedlander, Esquire , Sean M. Brennecke, Esquire , Bouchard Margules & Friedlander, P.A., Wilmington, Delaware; Mark Lebovitch, Esquire , Amy Miller, Esquire , Jeremy Friedman, Esquire , Bernstein Litowitz Berger & Grossman LLP, New York, New York; Marc A. Topaz, Esquire , Lee D. Rudy, Esquire , Michael C. Wagner, Esquire , James H. Miller, Esquire , Barroway Topaz Kessler Meltzer & Check, LLP, Radnor, Pennsylvania; Darren J. Robbins, Esquire , Randall J. Baron, Esquire , David T. Wissbroecker, Esquire , Robbins Geller Rudman & Dowd LLP, San Diego, California; Joseph H. Weiss , Mark D. Smilow, Esquire , Weiss & Lurie, New York, New York; Harwood Feffer LLP, New York, New York; Glancy Binkow & Goldberg LLP, Los Angeles, California; Carmella P. Keener, Esquire , Jessica Zeldin, Esquire , Rosenthal, Monhait & Goddess, P.A., Wilmington, Delaware; Counsel for Plaintiffs.

Donald J. Wolfe, Jr., Esquire , Matthew E. Fischer, Esquire , Dawn M. Jones, Esquire , Meghan M. Dougherty, Esquire , William E. Green, Jr., Esquire , Potter Anderson & Corroon LLP, Wilmington, Delaware; Mitchell A. Lowenthal, Esquire , Deborah Buell, Esquire , Cleary Gottlieb Steen & Hamilton LLP, New York, New York, Attorneys for Defendants Scott L. Thompson, Thomas P. Capo, Maryann N. Keller, Edward C. Lumley, Richard W. Neu, John C. Pope, and Dollar Thrifty Automotive Group, Inc.

Raymond J. DiCamillo, Esquire , Kevin M. Gallagher, Esquire , Richards Layton & Finger, P.A., Wilmington, Delaware; Joseph P. Moodhe, Esquire , Gary W. Kubek, Esquire , Courtney M. Dankworth, Esquire , Debevoise & Plimpton LLP, New York, New York, Attorneys for Defendants Hertz Global Holdings Inc. and HDTMS, Inc.


MEMORANDUM OPINION

STRINE, Vice Chancellor.

I. Introduction

The plaintiffs seek a preliminary injunction preventing the consummation of a merger under a merger agreement under which Hertz Global Holdings, Inc.1 will buy all the shares of its smaller rental car industry rival Dollar Thrifty Automotive Group, Inc. for $32.80 per share in cash (including a $200 million special dividend that will only be paid in...

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