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IN RE ORCHARD ENTERPRISES, INC.

C.A. No. 7840-VCL

88 A.3d 1 (2014)

In re ORCHARD ENTERPRISES, INC. STOCKHOLDER LITIGATION.

Court of Chancery of Delaware.

Decided: February 28, 2014.

Attorney(s) appearing for the Case

Peter B. Andrews , Faruqi & Faruqi, LLP Wilmington, Delaware; Samuel J. Lieberman , Paulina Stamatelos , Sadis & Goldberg LLP, New York, New York; James S. Notis , Jennifer Sarnelli , Jonathan A. Adler , Gardy & Notis, LLP, New York, New York; Attorneys for Plaintiffs.

William M. Lafferty , Jay N. Moffitt , Bradley D. Sorrels , Christopher P. Quinn , Morris, Nichols, Arsht & Tunnell LLP, Wilmington, Delaware; Attorneys for Defendants Michael Donahue, David Altschul, Viet Dinh, Joel Straka, and Nathan Peck.

Philip Trainer, Jr. , Toni-Ann Platia , Ashby & Geddes, P.A., Wilmington, Delaware; Kenneth J. Pfaehler , David I. Ackerman , Dentons U.S. LLP, Washington, District of Columbia; Attorneys for Defendants The Orchard Enterprises, Inc., Dimensional Associates, LLC, Daniel Stein, and Bradley Navin.

OPINION

LASTER, Vice Chancellor.

In 2010, Dimensional Associates, LLC ("Dimensional") squeezed out the minority stockholders of The Orchard Enterprises, Inc. ("Orchard" or the "Company"). The merger consideration was $2.05 per share. In 2012, Chief Justice Strine, writing while Chancellor, determined that the fair value of the common stock at the time of the merger was $4.67 per share. See In re Appraisal of The Orchard Enters., Inc., 2012 WL 2923305...

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