February 10, 2017

New Jersey Appellate Court Reinstates Claims Against Elliott in Metrologic Case

By decision dated February 10, 2017, the Superior Court of New Jersey, Appellate Division, reversed the lower court’s grant of summary judgment in In re Metrologic Instruments, Inc. Shareholders Litigation, reinstating claims against Elliott Associates and Elliott International, L.P.  Contrary to the lower court’s decision, the Appellate Division agreed with plaintiffs that there are triable issues of fact as to whether Elliott was part of a group that controlled the transaction at issue, the 2006 cash-out of the company’s public shareholders.  Carl Stine, a partner at Wolf Popper who, with co-counsel, represents plaintiffs in the case  commented:  “This is a great victory for the former public shareholders of Metrologic.  We are gratified that the appellate court agreed with our arguments about Elliott.”