Won appraisal award after trial of $2.43 per share more than public shareholders who did not seek appraisal for clients holding Travelocity securities including an institutional investor and an investment advisor

Case Abstract
In Delaware Chancery Court, Lowey Dannenberg won $2.43 per share (plus compounded prejudgment interest)more for its clients than was gained by the public shareholders who did not seek appraisal.

Client
Clients holding Travelocity securities including an institutional investor and an investment advisor.

Case Name
Doft & Co. v. Travelocity.com, Inc., No. Civ. A. 19734, 2004 WL 1152338 (May 20, 2004), modified, 2004 WL 1366994 (Del. Ch. June 10, 2004).

Result
Won appraisal award after trial of $2.43 per share more than public shareholders who did not seek appraisal.

Case Details
Following a three day bench trial in a statutory appraisal proceeding, the Delaware Chancery Court awarded our clients, an institutional investor and investment advisor, $30.43 per share plus compounded prejudgment interest, for a transaction in which the public shareholders who did not seek appraisal were cashed out at $28 per share.