It's a little like Vegas, since folks go there to gamble, too, but instead of a casino bettors hang out in Delaware Chancery Court. And, the players don't keep secrets that stay there, but instead create precedents that affect corporate law and governance across the country.
Two outstanding sources compiled the best and worst wagers (yeah, it's getting old already, didn't start well in the first place, so I'll stop here) from 2010:
Each highlights the most important Delaware Chancery and Supreme Court decisions last year. Pileggi lists a number of interesting cases, highlighting takeover and poison pill ones. Brown identifies the worst five for investors (Airgas, Selectica, Barnes & Noble, Axcelis, Revlon), in a series of blog posts. He observes, "...this has been a very bad year for shareholders."
This is important stuff for all investors, and interesting in its detail to attorneys (of course), investors with Delaware companies in their portfolio, and governance aficionados. Both complement nicely our review of 2010 for activist investors, and our preview of 2011. Pileggi and Brown cover the highlights succinctly and accessibly, and are worth your time.
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