Share Dilution

Real Estate Co. challenges burden of inventory dilution defense

By Jeff Montgomery (Nov 8, 2021, 8:51 p.m. EST) – Lawyers for real estate managers accused in chancellery court of conspiring to dilute a shareholder’s rights to 50% in order to foil an action in police custody on Monday dismissed arguments that a Delaware Supreme Court referral requires them to show a “compelling” justification for a “highly suspicious” action.

Michael K. Ross of Aegis Law Group LLP, representing the shareholder of UIP Cos. Inc., Marion Coster, told Chancellor Kathaleen S. McCormick in a teleconference that a Delaware Supreme Court opinion in June found that the Chancellery dismissed the case in January 2020 without considering whether a vote issue of shares was unfair or for the …

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