The C case describes the remedy that Laster imposes, his rationale for doing so, and the final outcome of the sale of Del Monte.Learning Objective: To explore the responsibilities that investment bankers as advisors have to their clients, as well as the challenge boards of directors face in...

The B case describes Laster's ruling and thoughts. Del Monte's board had violated its fiduciary duty to shareholders by allowing Barclays to play a dual role, for the seller and the buyer, that disadvantaged the Del Monte shareholders. Laster saved his most severe criticism for Barclays,...

In February 2011, Judge Laster of the Delaware Chancery Court was considering a suit claiming that Del Monte board members had breached their fiduciary duty to shareholders by not pursuing the best transaction for Del Monte. In the course of the discovery phase of the trial, the plaintiffs, and...