Potter Anderson Helps Secure Chancery Court Win for Rent-A-Center
Three days following post-trial arguments, Vice Chancellor Glasscock of the Delaware Chancery Court ruled that Rent-A-Center Inc. does not have to complete a $1.4 billion buyout by private equity firm Vintage Capital Management LLC because Vintage failed to deliver written notice to extend the agreement’s December 17, 2018 end date, which gave Rent-A-Center the right to terminate.
Serving as Delaware counsel to Munger Tolles & Olson, partner Mike Pittenger led Potter Anderson’s team for Rent-A-Center, which included partners Brad Davey, Matthew Davis and Matt Belger and associates Jacqueline Rogers, Dan Rusk, David Hahn and Caneel Radinson-Blasucci.
News of the ruling was reported by Law360, Reuters, Bloomberg and other major business media outlets.