In Re Loral

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.

Case Information

Attorneys

Witnesses

Plaintiff: BlackRock, Inc
Defense: Loral Space & Communication, Inc

Judge: Leo Strine
Jurisdiction: Delaware Court Of Chancery
Court: New Castle County Courthouse

Case Number: 2808-VCS
Industry: Finance
Practice Area: Securities

Expert Witnesses

Murray, Marti

Lay Witnesses

Sessions

Attorney

Witness

Type

Description

AM Session

Openings

5 Chapters

	Description	Attorney	Witness	Presence
00:00:18	Witness Direct Examination	Cirillo, Richard	Harkey, John D Jr	In Person
01:31:40	Break	Cirillo, Richard	Harkey, John D Jr	In Person
01:48:41	Witness Direct Examination	Cirillo, Richard	Harkey, John D Jr	In Person
01:58:08	Witness Cross Examination	Clayton, Lewis	Harkey, John D Jr	In Person
03:17:29	End of Session	Clayton, Lewis	Harkey, John D Jr

PM Session

Openings

7 Chapters

	Description	Attorney	Witness	Presence
00:00:13	Witness Cross Examination	Clayton, Lewis	Harkey, John D Jr	In Person
01:32:49	Break	Clayton, Lewis	Harkey, John D Jr	In Person
01:44:22	Witness Re-Direct Examination	Cirillo, Richard	Harkey, John D Jr	In Person
02:04:25	Witness Re-Cross Examination	Clayton, Lewis	Harkey, John D Jr	In Person
02:12:36	Witness Direct Examination	Cirillo, Richard	Simon, Mr. Arthur L	In Person
03:15:45	Witness Cross Examination	Clayton, Lewis	Simon, Mr. Arthur L	In Person
03:27:47	End of Session

MAR

AM Session

Plaintiff Witness(es)

9 Chapters

	Description	Attorney	Witness	Presence
00:00:02	Witness Cross Examination	Clayton, Lewis	Simon, Mr. Arthur L	In Person
00:55:03	Witness Re-Direct Examination	Cirillo, Richard	Simon, Mr. Arthur L	In Person
01:07:59	Break	Cirillo, Richard	Simon, Mr. Arthur L	In Person
01:26:28	Witness Direct Examination	Cirillo, Richard	Jacquin, David	In Person
01:40:05	Witness Direct Examination	Ralston, Brian	Smith, Mr. Andrew	In Person
01:51:39	Witness Cross Examination	Selden, Eric	Smith, Mr. Andrew	In Person
01:54:23	Witness Direct Examination	Cirillo, Richard	Jacquin, David	In Person
03:06:31	Witness Cross Examination	Clayton, Lewis	Jacquin, David	In Person
03:21:00	End of Session	Clayton, Lewis	Jacquin, David	In Person

PM Session

Plaintiff Witness(es)

2 Chapters

			Description	Attorney	Witness	Presence
		00:00:00	Witness Cross Examination	Clayton, Lewis	Jacquin, David	In Person
		01:58:00	End of Session	Clayton, Lewis	Jacquin, David	In Person

MAR

AM Session

Plaintiff Witness(es)

11 Chapters

	Description	Attorney	Witness	Presence
00:00:16	General Case Activities	Selden, Eric	Strine, Vice Chancellor Leo	In Person
00:13:50	Witness Cross Examination	Clayton, Lewis	Jacquin, David	In Person
00:29:27	Witness Re-Direct Examination	Cirillo, Richard	Jacquin, David	In Person
01:03:55	Witness Cross Examination	Clayton, Lewis	Jacquin, David	In Person
01:14:33	Witness Direct Examination	Solum, Matthew	Townsend, Mr. Richard	In Person
01:30:55	Break
01:47:25	Witness Direct Examination	Solum, Matthew	Townsend, Mr. Richard	In Person
02:33:40	Witness Cross Examination	Laster, J. Travis	Townsend, Mr. Richard	In Person
02:58:36	Witness Re-Direct Examination	Solum, Matthew	Townsend, Mr. Richard	In Person
03:06:00	Witness Re-Cross Examination	Laster, J. Travis	Townsend, Mr. Richard	In Person
03:08:05	End of Session	Laster, J. Travis	Townsend, Mr. Richard	In Person

PM Session

Plaintiff Witness(es)

6 Chapters

	Description	Attorney	Witness	Presence
00:00:00	Witness Direct Examination	Leon, Eric	Targoff, Mr. Michael B	In Person
01:43:15	Break	Leon, Eric	Targoff, Mr. Michael B	In Person
01:59:33	Witness Direct Examination	Leon, Eric	Targoff, Mr. Michael B	In Person
02:26:00	Witness Cross Examination	Menton, Francis	Targoff, Mr. Michael B	In Person
03:04:31	Witness Cross Examination	Finzi, Roberto	Targoff, Mr. Michael B	In Person
03:33:00	End of Session

MAR

AM Session

Defense Witness(es)

10 Chapters

	Description	Attorney	Witness	Presence
00:00:32	Witness Cross Examination	Finzi, Roberto	Targoff, Mr. Michael B	In Person
00:24:21	Witness Cross Examination	Hail, Brian	Targoff, Mr. Michael B	In Person
01:27:39	Witness Re-Direct Examination	Kurtz, Glenn	Targoff, Mr. Michael B	In Person
01:33:32	Break
01:47:58	Witness Direct Examination	Hammond, Andrew	Sung, Mr. Donald	In Person
02:21:10	Witness Cross Examination	Laster, J. Travis	Sung, Mr. Donald	In Person
03:09:30	Witness Re-Direct Examination	Hammond, Andrew	Sung, Mr. Donald	In Person
03:22:13	Witness Re-Cross Examination	Laster, J. Travis	Sung, Mr. Donald	In Person
03:24:45	Witness Re-Direct Examination	Hammond, Andrew	Sung, Mr. Donald	In Person
03:26:00	End of Session

PM Session

Plaintiff Witness(es)

11 Chapters

	Description	Attorney	Witness	Presence
00:00:21	Witness Direct Examination	Laster, J. Travis	Dondero, Mr. James	In Person
00:25:11	Witness Cross Examination	Cirillo, Richard	Dondero, Mr. James	In Person
00:29:30	Witness Cross Examination	Kurtz, Glenn	Dondero, Mr. James	In Person
01:40:51	Break	Kurtz, Glenn	Dondero, Mr. James
01:55:22	Witness Cross Examination	Kurtz, Glenn	Dondero, Mr. James	In Person
02:25:20	Witness Cross Examination	Gibson, Darren	Dondero, Mr. James	In Person
02:28:05	Witness Re-Direct Examination	Laster, J. Travis	Dondero, Mr. James	In Person
02:46:54	Witness Re-Cross Examination	Kurtz, Glenn	Dondero, Mr. James	In Person
02:58:14	Witness Direct Examination	Hail, Brian	Murray, Marti	In Person
03:12:03	Witness Cross Examination	Menton, Francis	Murray, Marti	In Person
03:40:53	End of Session	Menton, Francis	Murray, Marti	In Person

MAR

AM Session

Plaintiff Witness(es)

4 Chapters

	Description	Attorney	Witness	Presence
00:00:02	Witness Direct Examination	Kurtz, Glenn	Rachesky, Dr. Mark	In Person
01:01:04	Witness Cross Examination	Teklits, David	Rachesky, Dr. Mark	In Person
01:48:36	Witness Cross Examination	Hail, Brian	Rachesky, Dr. Mark	In Person
02:07:00	End of Session	Hail, Brian	Rachesky, Dr. Mark	In Person

PM Session

Not in Session

0 Chapters

MAR

In Re Loral

Summary

Outcome

Sessions

Suggest a Trial

CVN Essentials

Video Library