The Delaware Chancery Court will consider this week a $29.5 million settlement to resolve a lawsuit claiming a complex restructuring of a PetSmart LLC spinoff favored private equity insiders.
Here’s what to watch in court:
Monday: S’holder Rep. Servs. LLC v. Astellas Pharma, Inc., Del. Ch., No. 2023-0952, trial 6/22/26.
At issue: Astellas Pharma Inc. will defend its 2018 acquisition of Potenza Therapeutics Inc. at trial against former Potenza shareholders who claim Astellas used gamesmanship to dupe them into delaying litigation over post-deal payments. Delaware Superior Court Judge Sheldon K. Rennie will preside over trial; certain Superior Court judges ...