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Chancery Tosses Class Suit Over $3B Zimmer Biomet Cashout, Law360

August 26, 2021

The Delaware Court of Chancery’s recent dismissal of a $3 billion shareholder derivative suit against Zimmer Biomet Holdings, Inc. directors, officers, and private equity investors was reported in Law360. In dismissing the suit with prejudice, Vice Chancellor Lori W. Will concluded that the “stockholders’ failure to first put the allegations to the board – or show why it would have been futile – doomed claims that included breach of fiduciary duty, insider trading, unjust enrichment and breach of contract.”

Zimmer Biomet and the current and former officers and directors were represented by Morgan Lewis lawyers Troy Brown, Laura Hughes McNally, and John Barillare.

Read the full Law360 article >>