From: malQRMassimilation@gmail.com   
      
   by Matt Albaugh , Jason Asmus , Julie Crocker , William Doyle and Chris Brown   
      
   Earlier this week, the Delaware Court of Chancery ruled that AT&T   
   breached its duty of loyalty by engaging in an unfair and   
   self-interested transaction as part of a minority-partner freeze-out.   
      
   In In re Cellular Telephone Partnership Litigation,   
   (C.A. No. 6885-VCL) (Del. Ch. March 9, 2022), Vice Chancellor Laster   
   issued a detailed, 134-page opinion following a five-day trial last   
   year. The decision was a bellwether for 12 other similar freeze-out   
   transactions that AT&T performed around the country.   
      
   AT&T's partnerships originated in the 1980s as part of the Federal   
   Communications Commission's (FCC) lottery system for awarding cellular   
   telephone networks in various geographic areas. At the time, lottery   
   participants would commonly enter into arrangements similar to an   
   office pool - if one of the pool participants won the FCC's lottery,   
   the winner received a 50.01% partnership interest and the others   
   received shares of the remaining 49.99% interest. A pool participant   
   for the Salem, Ore. area won and promptly sold its controlling   
   partnership interest to AT&T.   
      
   https://www.mondaq.com/unitedstates/trials-appeals-compensation/   
   172172/att-breaches-duty-of-loyalty-in-freeze-out-of-minority-pa   
   tners-and-hit-with-millions-in-damages   
      
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    * Origin: you cannot sedate... all the things you hate (1:229/2)