Case Title: In Re Cox Radio, Inc. Shareholders Litigation/Towerview LLC et al. v. George Leon, et al. v. Juanita P. Baranco, et al.

Citation: 

Docket Number: 331, 2010

State: delaware

Court: Delaware Supreme Court

Date: 2010-11-22T00:00:00Z

Document:
IN THE SUPREME COURT OF THE STATE OF DELAWARE
IN RE COX RADIO, INC.
§
SHAREHOLDERS LITIGATION
§
___________________________________ §
TOWERVIEW LLC, HARTZ CAPITAL
§
INVESTMENTS, LLC, METROPOLITAN §
CAPITAL ADVISORS, LP, 
§
METROPOLITAN CAPITAL ADVISORS §
INTERNATIONAL, LTD., JEFFREY E.
§
SCHWARZ, and METROPOLITAN
§
CAPITAL ADVISORS SELECT FUND,
§
L.P., 
§
§  No. 331, 2010
Objectors Below,
§
Appellants,
§
§  Court Below:  
     v.
§  Court of Chancery  
§  of the State of Delaware
GEORGE LEON, as Trustee for the
§
George Leon Family Trust, and CORAL
§  C.A. No. 4461
SPRINGS POLICE PENSION FUND,
§
Individually and on Behalf of All Others
§
Similarly Situated,
§
§
Plaintiffs Below, 
§
Appellees,
§
§
     and
§ 
§ 
JUANITA P. BARANCO, NICK W. 
§
EVANS, JR., JAMES C. KENNEDY, 
§
G. DENNIS BERRY, JIMMY W. HAYES, §  
PAUL M. HUGHES, MARC W. 
§
MORGAN, ROBERT F. NEILL, 
§
NICHOLAS D. TRIGONY, COX RADIO, §
INC., COX ENTERPRISES, INC., and
§
COX MEDIA GROUP, INC.,
§
§
Defendants Below,
§
Appellees.
§
1Cf.  Kahn v. Lynch Communication Systems, Inc., 638 A.2d 1110 (Del. 1994); In Re Pure
Resources, Inc. S’holders Litig., 808 A.2d 421 (Del. Ch. 2002).
2
Submitted:  November 17, 2010
Decided:  November 22, 2010
Before HOLLAND, BERGER and RIDGELY, Justices.
O R D E R
This 22nd day of November 2010, on consideration of the briefs and arguments
of the parties, the Court has concluded that this matter should be affirmed on the basis
of and for the reasons assigned by the Court of Chancery in its Memorandum Opinion
dated May 6, 2010.  The Court of Chancery concluded that, even if the transactions
at issue were subjected to the entire fairness standard of review, the proposed
settlement should be approved.1  Accordingly, we need not and do not express any
view as to the proper standard by which the underlying transactions should be
reviewed.
NOW, THEREFORE, IT IS HEREBY ORDERED that the judgment of the
Chancery Court be, and the same hereby is, AFFIRMED.
BY THE COURT:
/s/ Carolyn Berger
Justice