David JAROSLAWICZ,
v.
M&T BANK CORPORATION; Hudson City Bancorp Inc.; *The Estate of Robert G. Wilmers, By Its Personal Representatives Elisabeth Roche Wilmers, Peter Milliken, and Holly Mcallister Swett; Rene F. Jones; Mark J. Czarnecki; Brent D. Baird; Angela C. Bontempo; Robert T. Brady; T. Jefferson Cunningham, III; Gary N. Geisel; John D. Hawke, Jr.; Patrick W.E. Hodgson; Richard G. King; Jorge G. Pereira; Melinda R. Rich; Robert E. Sadler, Jr.; Herbert L. Washington; Denis J. Salamone; Michael W. Azzara; Victoria H. Bruni; Donald O. Quest; Joseph G. Sponholz; Cornelius E. Golding; William G. Bardel; Scott A. Belair,
Belina Family; Jeff Krublit, Appellants.
United States Court of Appeals, Third Circuit.https://leagle.com/images/logo.png
*Amended pursuant to Clerk's Order dated March 1, 2018.
Argued: July 17, 2018.
Filed: June 18, 2020.
Attorney(s) appearing for the Case
Deborah R. Gross [ARGUED], Kaufman Coren & Ress, 2001 Market Street, Two Commerce Square, Suite 3900, Philadelphia, Pennsylvania 19103, Francis J. Murphy , Jonathan L. Parshall , Murphy & Landon, 1011 Centre Road, Suite 210, Wilmington, Delaware 19805, Laurence D. Paskowitz , Suite 380, 208 East 51st Street, New York, New York 10022, Counsel for Appellants Belina Family and Jeff Krublit.
George T. Conway, III , Adam L. Goodman , Bradley R. Wilson [ARGUED], Jordan L. Pietzsch , Wachtell Lipton Rosen & Katz, 51 West 52nd Street, New York, New York 10019, John C. Cordrey , Brian M. Rostocki , Reed Smith, 1201 Market Street, Suite 1500, Wilmington, Delaware 19801, Counsel for Appellees M&T Bank Corporation, The Estate of Robert G. Wilmers, Rene F. Jones, Mark J. Czarnecki, Brent D. Baird, Angela C. Bontempo, Robert T. Brady, T. Jefferson Cunningham, III, Gary N. Geisel, John D. Hawke, Jr., Patrick W. E. Hodgson, Richard G. King, Jorge G. Pereira, Melinda R. Rich, Robert E. Sadler, Jr., and Herbert L. Washington.
Tracy R. High , Sullivan & Cromwell, 125 Broad Street, New York, New York 10004, Kevin R. Shannon , Potter Anderson & Corroon, 1313 North Market Street, Hercules Plaza, 6th Floor, P.O. Box 951, Wilmington, Delaware, 19801, Counsel for Appellees Denis J. Salamone, Victoria H. Bruni, Donald O. Quest, Joseph G. Sponholz, Scott A. Belair, Michael W. Azzara, William G. Bardel and Cornelius E. Golding.
Before: McKEE, MATEY, and SILER, JR., Circuit Judges.
OPINION
MATEY, Circuit Judge.
It is a familiar story in the life of a publicly held business. A corporation identifies an opportunity and decides to ask its shareholders for their approval to pursue. But the business runs in a highly regulated space like finance. So the company proceeds through...
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