IN RE MORTON'S RESTAURANT GROUP, INC.

C.A. No. 7122-CS.

74 A.3d 656 (2013)

In re MORTON'S RESTAURANT GROUP, INC. SHAREHOLDERS LITIGATION.

Court of Chancery of Delaware.

Decided: July 23, 2013.


Attorney(s) appearing for the Case

Peter B. Andrews, Esquire , Craig J. Springer, Esquire , Faruqi & Faruqi, LLP, Wilmington, Delaware; Carmella P. Keener, Esquire , Rosenthal, Monhait & Goddess, P.A., Wilmington, Delaware; Juan E. Monteverde, Esquire , Faruqi & Faruqi, LLP, New York, New York; Joseph E. White, III, Esquire , Jonathan M. Stein, Esquire , Lester R. Hooker, Esquire , Saxena White, P.A., Boca Raton, Florida, Attorneys for Plaintiffs Morton's Restaurant Group Stockholders.

Gregory V. Varallo, Esquire , Richard P. Rollo, Esquire , Thomas A. Uebler, Esquire , J. Scott Pritchard, Esquire , Richards, Layton & Finger, P.A., Wilmington, Delaware, Attorneys for Defendants Morton's Restaurant Group Inc., Christopher Artinian, John Castle, Stephen Paul, David Pittaway, Dianne Russell, William Anton, John Connolly, Robert Goldschmidt, Zane Tankel, and Alan Teran.

Bruce L. Silverstein, Esquire , Elena C. Norman, Esquire , Kathaleen St. J. McCormick, Esquire , Young Conaway Stargatt & Taylor, LLP, Wilmington, Delaware, Attorneys for Defendants Fertitta Morton's Restaurants, Inc. and Fertitta Morton's Acquisition, Inc.

Donald J. Wolfe, Jr., Esquire , T. Brad Davey, Esquire , Justin Morse, Esquire , Potter Anderson & Corroon LLP, Wilmington, Delaware; Brian A. Herman, Esquire , Morgan, Lewis & Bockius LLP, New York, New York, Attorneys for Defendant Jefferies & Company, Inc.

Henry E. Gallagher, Jr., Esquire , Ryan P. Newell, Esquire , Connolly Gallagher LLP, Wilmington, Delaware; Geoffrey J. Ritts, Esquire , P. Nikhil Rao, Esquire , Jones Day, Cleveland, Ohio, Attorneys for Defendant KeyBanc Capital Markets Inc.


OPINION

STRINE, Chancellor.

I. Introduction

After receiving substantial discovery, both before and after abandoning an attempt to enjoin a tender offer and second-step merger between a corporation and an arm's-length purchaser, the plaintiffs in this case filed a second amended complaint (the "Complaint").1 The defendants have moved to dismiss the Complaint. The key facts pertinent to the pending motion are drawn...

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