M & A Law Prof Blog

Editor: Brian JM Quinn
Boston College Law School

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Thursday, June 2, 2011

Massey reaction

Plaintiff's counsel in the Massey derivative suit, Stuart Grant, had the following comments to Reuters in reaction to Vice Chancellor's Strine's ruling in the Massey derivative suit:

“This ruling has me totally disgusted,” he said in an interview Wednesday morning. “What message is this sending to corporate boards? That there’s no accountability. What message does it send to shareholders and their lawyers? Christ, if you can’t win against Massey and [former CEO] Don Blankenship, you can’t win….These people are just going to walk. This ruling says you can be the worst CEO, you can violate all the laws you want, then you can arrange a sweetheart merger and just walk away.”

-bjmq

http://lawprofessors.typepad.com/mergers/2011/06/massey-reaction.html

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