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In re Appraisal of NetSpend Holdings, Inc.

Court of Chancery of Delaware

June 3, 2014

In re Appraisal of NetSpend Holdings, Inc.

Submitted Date May 27, 2014

Stuart M. Grant Kimberly A. Evans Grant & Eisenhofer P.A.

William M. Lafferty Ryan D. Stottmann Morris, Nichols, Arsht & Tunnell LLP

Ronald A. Brown, Jr. Marcus E. Montejo Kevin H. Davenport Prickett, Jones & Elliott P.A.

Dear Counsel:

The issue before me in this statutory appraisal action is the discoverability of documents relating to the Petitioners' pre-suit valuations of NetSpend Holdings, Inc. The scope of discovery under Court of Chancery Rule 26 is broad;[1] the issues before the Court in an appraisal action, however, are narrow. In resisting the Respondent's discovery of their pre-suit valuations, the Petitioners point out, reasonably, that there is scant likelihood that discovery of these valuations, necessarily done based on public information, will lead to admissible evidence here. I cannot say with confidence, however, that the possibility of such evidence coming to light is entirely foreclosed, nor can I say that the documents sought will have no value for purposes of cross-examination or rebuttal of the expert testimony I anticipate forming much of the evidence at trial. The Petitioners have not suggested that the evidence sought is privileged or that its production is unduly burdensome. Since I find that the documents sought are within the broad ambit of discoverable material under Rule 26, the Respondent's Motion to Compel is granted.[2] IT IS SO ORDERED.

Sincerely,

SAM GLASSCOCK III VICE CHANCELLOR


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