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CORWIN v. BRITISH AMERICAN TOBACCO PLC

No. 56PA17.

821 S.E.2d 729 (2018)

Dr. Robert CORWIN AS TRUSTEE FOR the BEATRICE CORWIN LIVING IRREVOCABLE TRUST, on Behalf of a Class of Those Similarly Situated v. BRITISH AMERICAN TOBACCO PLC, Reynolds American, Inc., Susan M. Cameron, John P. Daly, Neil R. Withington, Luc Jobin, Sir Nicholas Scheele, Martin D. Feinstein, Ronald S. Rolfe, Richard E. Thornburgh, Holly K. Koeppel, Nana Mensah, Lionel L. Nowell, III, John J. Zillmer, and Thomas C. Wajnert.

Supreme Court of North Carolina.

Filed December 7, 2018.

Attorney(s) appearing for the Case

Mullins Duncan Harrell & Russell PLLC, by Alan W. Duncan and Stephen M. Russell, Jr. ; and Block & Leviton LLP, by Jason M. Leviton , pro hac vice, for plaintiff-appellee.

Robinson & Lawing, LLP, by H. Brent Helms ; and Cravath, Swaine & Moore LLP, by Gary A. Bornstein , pro hac vice, for defendant-appellant British American Tobacco PLC.

Bell Davis & Pitt, P.A., by Alan M. Ruley and William K. Davis , for North Carolina Association of Defense Attorneys, amicus curiae.

This appeal arises from the agreement of Reynolds American, Inc. to purchase Lorillard, Inc. Defendant British American Tobacco PLC (BAT) owned 42% of the stock in Reynolds and agreed to fund part of the Lorillard transaction by purchasing enough of the newly acquired shares to maintain that 42% ownership interest. The terms...

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