- Defense
- Loral Space & Communication, Inc
- Represented By:
- Clayton, Lewis (Paul Weiss Rifkind Wharton & Garrison LLP)
- Cirillo, Richard (King & Spalding, LLP)
- Gibson, Darren (Willkie Farr & Gallagher, LLP)
- Hammond, Andrew (White & Case LLP)
- Kurtz, Glenn (White & Case LLP)
- Leon, Eric (Kirkland & Ellis LLP)
- Menton, Francis (Willkie Farr & Gallagher, LLP)
- Ralston, Brian (Potter Anderson & Corroon LLP (Wilmington))
- Solum, Matthew (Kirkland & Ellis LLP)
- Teklits, David (Morris, Nichols, Arsht & Tunnell, LLP)
In Re Loral
VERDICT
Trial
03/03/08 – 03/07/08
Summary
The Shareholder Derivative Litigation arose out of the Company's sale of $300 million of preferred stock to funds affiliated with MHR Fund Management LLC ("MHR") pursuant to the Securities Purchase Agreement dated October 17, 2006, as amended and restated on February 27, 2007 (the "Securities Purchase Agreement"). The plaintiffs, certain stockholders of Loral, alleged, among other things, that the sale was not fair to the Company and resulted from breach of fiduciary duties by Loral's directors.
Outcome
MHR Financing was unfair and that a final judgment should be entered in favor of Loral and against MHR.
- Plaintiff
- Defense
- Judge
- Leo Strine
- Jurisdiction
- Delaware Court Of Chancery
- Court
- New Castle County Courthouse
- Case Number
- 2808-VCS
- Industry
- Finance
- Practice Area
- Securities
Sessions
AM Session
Openings
5 Chapters
PM Session
Openings
7 Chapters
AM Session
Plaintiff Witness(es)
9 Chapters
PM Session
Plaintiff Witness(es)
2 Chapters
AM Session
Plaintiff Witness(es)
11 Chapters
PM Session
Plaintiff Witness(es)
6 Chapters
AM Session
Defense Witness(es)
10 Chapters
PM Session
Plaintiff Witness(es)
11 Chapters
AM Session
Plaintiff Witness(es)
4 Chapters
PM Session
Not in Session
0 Chapters