Home

Cravath Gains Favorable Ruling in Conflict of Interest Case
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Cravath, Swaine & Moore will be allowed to represent Air Products and Chemicals in its attempted takeover of rival Airgas Inc., a Delaware Court ruled Friday. The judgment came as the result of a conflict of interest suit filed against Cravath because the firm had previously represented both companies.

Delaware Chancellor William Chandler called a disqualification a “Draconian” measure because there was no evidence that any information Cravath gleaned while representing Airgas would be used in the buyout case, Reuters reports.

“Airgas here has not demonstrated…persuasively, let alone clearly and convincingly, that it would be disadvantaged by the presence of its former counsel as advocate for its opponent, Air Products,” Chandler said in his ruling.

  
What
Where


According to previous reports, Cravath has represented Air Products for at least 43 years. The firm also worked for Airgas from May 2001 until October 2009, but then resigned when it was made known of the pending offer.

Cravath told Reuters the decision “speaks for itself” and offered no further comment. Air Products said it intends to move forward in its proposed $5.1 billion acquisition, which Airgas has called grossly undervalued. Reuters reports the two companies would have about $13 billion in annual sales if the merger goes through.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!






 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Mid-level Litigation Associate Attorney

USA-MD-Baltimore

Baltimore office of our client seeks mid-level litigation associate attorney with 3+ years of experi...

Apply Now

Litigation Associate Attorney

USA-SC-Columbia

Columbia office is seeking a commercial litigation attorney with 2-4 years of experience.

Apply Now

Junior Employment Litigation Attorney

USA-CA-San Francisco

San Francisco office is seeking an attorney with 2-3 years of employment litigation, class action or...

Apply Now

Senior Leveraged Finance Attorney

USA-NY-New York City

New York City office is seeking a senior leveraged finance attorney with 12+ years of experience. Ca...

Apply Now

RELEVANT JOBS

Social Security Legal Assistant - Immediate Opening!

USA-PA-Scranton

Scranton-based workers comp, social security, and personal injury law office is seeking a social sec...

Apply now

Nurse Paralegal

USA-NY-New York City

McGivney, Kluger & Cook\'s New York City office seeks a nurse paralegal to join our team! Respons...

Apply now

Associate Attorney

USA-NY-New York City

Law firm seeks associate that must be admitted to practice law in New York  to attend Civil cou...

Apply now

Director of Enforcement

USA-PA-Philadelphia

DIRECTOR OF ENFORCEMENT POSITION AVAILABLE The Fair Housing Rights Center in Southeastern Pennsyl...

Apply now

SEARCH IN ARCHIVE

To Top