FanDuel shareholders secure confidential review of withheld merger documents
By SectorWire desk · · Updated
Summary
A New York special master ordered confidential review of withheld legal communications in FanDuel shareholders’ merger lawsuit. The ruling does not establish fiduciary duties or breaches, which defendants contest. Relevant valuation and shareholder-rights documents must first be reviewed before any disclosure decision; fact discovery has an 18 December deadline.
Why it matters
The order requires confidential review before deciding which documents shareholders may obtain; it does not resolve their allegations.