Opinion ID: 3158748
Heading Depth: 2
Heading Rank: 1

Heading: The Key Players

Text: Rural is a Delaware corporation headquartered in Scottsdale, Arizona. Founded in 1948, the Company is a leading national provider of ambulance and private fire protection services that serves more than 400 communities across 22 states. Its ambulance business offers emergency and non-emergency transports under contracts with government organizations, hospitals, nursing homes, and other healthcare entities. Rural’s shares traded on NASDAQ from July 1993 until the merger closed on June 30, 2011. Upon closing, each publicly held share of Rural common stock was converted into the right to receive $17.25 in cash. Before the merger, the board of directors had seven members: Christopher S. Shackelton, Eugene I. Davis, Earl P. Holland, Henry G. Walker, Robert E. Wilson, Conrad A. Conrad, and Michael P. DiMino (the “Board”). Of the Board’s seven members, the trial court, in Rural I, determined that Wilson, Davis, Holland, Conrad, 3 Walker, and Shackelton were “facially, independent, disinterested, outside directors.” DiMino was Rural’s President and CEO. Wilson did not vote on the merger. Shackelton, Davis, and Walker comprised the special committee (the “Special Committee” or “Committee”). Shackelton was its Chair. The trial court found that Shackelton played the most significant role, and that Davis and Walker generally deferred to Shackelton. On April 8, 2013, all parties filed pre-trial opening briefs and all defendants were headed for trial. On April 25, 2013, plaintiffs advised the Court of Chancery of an agreement in principle to settle with Moelis for a payment of $5 million to the Class. On April 29, 2013, the individual defendants advised the Court of Chancery that they had also reached an agreement in principle to settle for a contemplated payment of $6.6 million to the Class. Thus, the case proceeded to trial solely against RBC.