In describing the benefits of a class action settlement in a shareholders’ merger challenge as akin to the size of a peppercorn but the rights bargained away only equal to a mustard seed, Vice Chancellor Sam Glasscock III approved the noncash settlement over the sole objection of a law professor.
But Glasscock expressed his concerns with the breadth of the release and said the likelihood of customary approvals of such releases in exchange for disclosures will be diminished by his Sept. 17 opinion in In re Riverbed Technology Stockholders Litigation as well as other recent Court of Chancery rulings.
