After the Court awarded damages post-trial of $.87 per share to stockholders whom the Court found had been cashed out at an unfair price, a stockholder who originally had sought appraisal (and thus had not received the merger consideration of $3.21 per share) but then abandoned its appraisal action in favor of participating in the plenary class action, intervened to claim a right to the merger consideration it alone had not received. The Court issued a Remedy Opinion awarding the intervening stockholder the $.87 per share damage award plus the $3.21 per share of merger consideration it had not received. After the stockholder’s intervention, the parties had entered into a settlement that would require Court approval. The Remedy Opinion affected the allocation of the settlement consideration and controller asked the Court to certify an interlocutory appeal. The Court denied this application, ruling not only that the application was untimely but also that the Remedy Opinion neither resolved a substantial issue nor met other criteria for certification. An additional reason to deny certification of the interlocutory appeal was that the case was nearing its end, and the defendants could appeal the Remedy Opinion as of right as part of a final order. The Court thus held that an interlocutory appeal would “risk burdening the Delaware Supreme Court with multiple appeals.”
