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Appraisal Rights Litigation Blog

Category Archives: Preferred Stock

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Can Drag-Along Provisions Eliminate Appraisal Rights [Part 2]?

Posted in Drag-Along Rights, Preferred Stock, Waiver of Appraisal Rights

As we have posted previously, whether a voting agreement, or so-called drag-along provision, can be successfully enforced to prevent common stockholders from seeking appraisal is an open question in the Delaware courts.  And so it remains, even in the wake of Halpin v. Riverstone National, Inc., (Del. Ch. Feb. 26, 2015), in which the Court… Continue Reading

Preferred Stock Has Appraisal Rights Too — Sort Of

Posted in Fair Value, Independent Valuation, Preferred Stock, Waiver of Appraisal Rights

Like common stockholders, holders of preferred stock may exercise appraisal rights.  The extent of what those rights actually entail, however, may be far more limited than what common shareholders may experience.  As a general rule, preferred stock has the same appraisal rights as common stock, but “[u]nlike common stock, the value of preferred stock is… Continue Reading