RBC loses bid to overturn $76 million judgment over Rural/Metro sale

November 30, 2015 4:51 PM

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Nov 30 The Delaware Supreme Court upheld on Monday a ruling that RBC Capital Markets is liable for $76 million for its role in the 2011 sale of ambulance company Rural/Metro, which was found to have shortchanged investors.

The case has been closely watched on Wall Street because the 2014 ruling by the lower Court of Chancery exposed financial advisers on merger deals to potential liability for aiding a board that mishandles the sale of a company.

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