USG overcomes plaintiffs' attempt to enjoin merger vote
Clients USG Corporation
Jones Day successfully defended USG Corporation and its board from a preliminary injunction brought to enjoin the stockholders' vote on a proposed merger. Multiple plaintiffs brought a consolidated motion alleging violations of Section 203 relating to an acquisition by a holder of more than 15 percent, and deficiencies in USG's proxy. Following a full hearing two days before the schedule stockholder meeting, the court denied the motion, and the vote and merger went through as planned.
In re: USG Corporation Stockholder Litigation, No. 2018-0602 (Del. Ch.)