Archive: July 30, 2021

DAMAGES AND TERMINATION FEE CLAIMS REJECTED IN ANTHEM-CIGNA FAILED MERGER SUIT

By: Remsen Kinne and Adam Heyd

In In re Anthem-Cigna Merger Litigation, C.A. No. 2017-0114-JTL (Del. Ch. August 31, 2020), the Delaware Court of Chancery (“Court”) rejected claims for damages by Anthem, Inc. (“Anthem”) and by Cigna Corporation (“Cigna”) for breach of covenants under their Agreement and Plan of Merger entered into on July 23, 2015 (“Merger Agreement”).  The Court also ruled against Cigna’s claim for a reverse termination fee.

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