Subscribe- Plaintiff
- Poliak, Albert
- Represented By:
- McNally, Edward (Morris James LLP)
- Defense
- Keyser, Robert
- Represented By:
- Pittenger, Michael (Potter Anderson & Corroon LLP)
Summary
In this oral argument before the Delaware Supreme Court, the attorney representing Albert Poliak appealed the decision of the Court of Chancery, which held that Robert D. Keyser, Jr., and other plaintiffs could challenge the issuance of Ark Financial Services, Inc.'s Series B Preferred Stock and that the Series B Preferred Stock was invalid under the entire fairness standard of review. The Series B Preferred Stock was issued in December 2010, by Mr. Poliak to block a prior takeover attempt by Mr. Keyser. The plaintiffs brought the action in December 2011 to determine the members of the board of directors of Ark.
Outcome
The Court of Chancery's judgment was affirmed.
- Plaintiff
- Defense
- Jurisdiction
- Delaware Supreme Court
- Court
- Delaware Supreme Court
- Case Number
- 478, 2012
- Industry
- Finance
- Practice Area
- Securities, Financial Services, Bankruptcy Law
- Expert Witnesses
- Lay Witnesses
Sessions
PM Session
Oral Arguments
4 Chapters
