Delaware Supreme Court Holds That Stockholders' Statutory Appraisal Rights Can Be Waived In A Negotiated Contract
Shearman & Sterling
SEPTEMBER 21, 2021
On September 13, 2021, the Delaware Supreme Court affirmed the Delaware Court of Chancery's decision holding that a corporation may enforce an advance waiver of appraisal rights against its own stockholders. Manti Holdings, LLC v. Authentix Acquisition Co., Inc., No. 354, 2020, 2021 WL 4165159 (Del. Sept. 13, 2021). The Delaware Supreme Court held that Delaware law does not prohibit sophisticated and informed stockholders—who were represented by counsel and had bargaining power—from waiving
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