143 A.3d 727 (2016)


Court of Chancery of Delaware.

Date Decided: June 30, 2016.

Attorney(s) appearing for the Case

Derrick B. Farrell and James R. Banko , FARUQI & FARUQI LLP, Wilmington, Delaware; Seth D. Rigrodsky , Brian D. Long , Gina M. Serra , and Jeremy J. Riley , RIGRODSKY & LONG, P.A., Wilmington, Delaware; Kent A. Bronson , Roy Shimon , and Christopher Schuyler , MILBERG LLP, New York, New York; Julia J. Sun , LEVI & KORSINSKY LLP, New York, New York; Juan E. Monteverde , FARUQI & FARUQI LLP, New York, New York; Attorneys for Plaintiffs Melvin Lax, Melissa Gordon, and Mohammed Munawar.

William M. Lafferty , D. McKinley Measley , and Richard Li , MORRIS, NICHOLS, ARSHT & TUNNELL LLP, Wilmington, Delaware; Koji Fukumura and Peter Adams , COOLEY LLP, San Diego, California; Attorneys for Defendants Kieran T. Gallahue, Lesley H. Howe, R. Scott Huennekens, Siddhartha Kadia, Alexis V. Lukianov, Ronald A. Matricaria, Leslie V. Norwalk, and Daniel J. Wolterman.

Kevin G. Abrams , J. Peter Shindel, Jr. , and Daniel R. Ciarrocki , ABRAMS & BAYLISS LLP, Wilmington, Delaware; Mitchell A. Lowenthal and Meredith Kotler , CLEARY GOTTLIEB STEEN & HAMILTON LLP, New York, New York; Attorneys for Defendant Goldman, Sachs & Co.

Raymond J. DiCamillo , J. Scott Pritchard , and Rachel E. Horn , RICHARDS, LAYTON & FINGER, P.A., Wilmington, Delaware; Michael H. Steinberg and Edward E. Johnson , SULLIVAN & CROMWELL LLP, Los Angeles, California; Attorneys for Nominal Defendant Volcano Corporation.


The plaintiffs in this action are former public stockholders of a company that was acquired for $18 per share in an all-cash merger. Just five months prior, the target company had declined an offer of $24 per share from the same acquiror. After the companies announced the merger, the plaintiffs...

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