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Dell Technologies to pay $1 billion settlement in suit stemming from 2018 Class V stock deal

MarketWatch logo MarketWatch 11/16/2022 Steve Gelsi
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Dell Technologies Inc. said Wednesday it agreed to pay $1 billion to settle a lawsuit against the company in Delaware Court of Chancery stemming from its December, 2018 transaction involving its Class V stock. "The plaintiffs generally alleged that the director defendants and the stockholder defendants breached their fiduciary duties under Delaware law to the former holders of the Class V common stock in connection with the Class V transaction by offering a transaction value that was allegedly billions of dollars below fair value," according to a filing. The settlement also covers claims against Goldman Sachs & Co. the financial adviser on the deal that was also named as a defendant. Shares of Dell are down 24.6% in 2022 compared to a 16.3% drop by the S&P 500

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