BUSINESS

Insurance companies are increasingly leveraging AI tools both in back-office and consumer facing functions.

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.Why we love this deal

Patio furniture is not what it used to be, and that’s a great development. Getting comfortable on outdoor furniture for your home used to be an exercise in futility, but today’s patio sets are ergonomically designed and made from premium materials. Case in point, one of Walmart’s best patio sets is currently on sale, and just looking at the pictures makes us wish we were lounging in them right now.

The Aiho 3-Piece Patio Set is on sale right now for only $76, which is an affordable price compared to other outdoor sets. If that discount doesn’t make you incredibly comfortable, then we’re not sure what will.

Aiho 3-Piece Patio Set, $76 (was $100) at Walmart

Courtesy of Walmart

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Why do shoppers love it?

This set has everything you could want in outdoor furniture and none of the unnecessary extras. It includes two comfy chairs and a small end table. All three pieces are made from reinforced rustproof stainless steel, and the chairs are covered in flexible Textilene fabric. The table has a durable and shatter-resistant tempered glass top, which is attractive and easy to clean. An ergonomic design makes the chairs incredibly comfortable to sit in.

The waterproof design of this entire set makes it perfect for keeping outside all year long. Each piece also has anti-slip grip pads on the legs, so you can be sure not to slide around on your deck or patio, even in damp conditions. Aside from its durability, Textilene fabric is incredibly breathable as well, so this is a terrific set for the warm and humid months when airflow is the key to comfort.

Related: Walmart’s $1,200 4-piece patio set with a loveseat, table, and 2 armchairs is 53% off

Details to know

Construction: Stainless steel and Textilene fabric.

Weight capacity: 330 pounds per seat.

Tabletop: Shatter-resistant tempered glass.

Walmart shoppers quickly fell in love with this set. One called it the “best budget-friendly patio set,” adding that it fits perfectly on a small patio apartment.

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Lacoo 3-Piece Outdoor Patio Set, $85 (was $160) at Walmart

Devoko 3-Piece Wicker Patio Set, $95 (was $160) at Walmart

The Aiho 3-Piece Patio Set is a great option for outdoor spaces of any size. At just $76, you can’t go wrong with this buy. Just don’t wait too long. Since it’s under $100, you have limited time to snap this deal up.

Looking for help with today’s New York Times Pips? We’ll walk you through today’s puzzle and help you match dominoes to tiles.

Looking for help with today’s New York Times Wordle? Here are some expert hints, clues and commentary to help you solve today’s Wordle and sharpen your guessing game.

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.

Why we love this deal

As we return indoors with colder weather on its way, it’s only natural to notice clutter around the home that may have been neglected while enjoying those final moments of outdoor summer fun. Out of all the cleaning jobs required around the house, clearing clutter is one of the easiest chores to complete. You don’t need to toss it out or create a convoluted organization system — everything just needs its own space. For crafting supplies, holiday decorations, beauty supplies, and other smaller objects that need to be tucked away, a spacious set of storage drawers is the best solution.

You have options when it comes to storage drawers, but a lightweight set on wheels offers superior convenience. A rolling storage cart makes organizing a breeze because you can roll it around beside you while cleaning up various rooms. The Sterilite Wide 3-Drawer Plastic Storage Cart is perfectly suited for this task, and it’s now available for under $50 with a $10 discount. For increased versatility, the wheels are removable, so you could use it as a permanent fixture in the bedroom closet or kitchen pantry if that better serves your needs.

Sterilite Wide 3-Drawer Plastic Storage Cart, $48 (was $58) at Walmart

Courtesy of Walmart

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Why do shoppers love it?

Measuring 21.8 inches long, 15.3 inches wide, and 24.5 inches tall, this storage cart is similar in size to an average side table, so it doesn’t take up too much floor space. Despite the compact size, the three wide drawers provide enough room for stacks of shirts, piles of beauty supplies, or a large collection of holiday decorations. One reviewer raved, “I love that it has plenty of space in the ample drawers to put all of my crafting stuff. This is quite a help so that I can keep everything organized and in a clean space.”

Related: Walmart’s 6-drawer dresser that can hold over 200 pounds is on sale for $153

Constructed with transparent BPA-free plastic, the drawers give a clear view of what’s inside, so you can quickly access the contents when pulling them out of storage. The drawers pull out smoothly and have easy-to-grip handles for even more accessibility. You also don’t have to worry about pulling them out too far and spilling your belongings all over the place, because the drawers have built-in stoppers to keep them in place.

Details to know 

Dimensions: 21.8 inches long, 15.3 inches wide, and 24.5 inches tall.

Material: BPA-free plastic.

Are the wheels removable?: Yes. You can use the storage cart as a freestanding storage drawer by removing the wheels.

If the white frame of the storage cart ever begins to look dusty or dingy, the plastic can be wiped down with a wet towel and mild soap. One shopper who called the storage “easy to clean and made with a strong material” also expressed their appreciation for the mobile design: “It holds a lot of items and, because of the wheels, it is so easy to relocate.”

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Iris 3-Pack of 14.5-Quart Stackable Storage Drawers, $45 at Walmart

Broview 120-Quart Stackable Storage Bins, $70 (was $120) at Walmart

Yecaye 2-Pack of Wheeled Under-Bed Storage, $33 (was $50) at Walmart

The Sterilite Wide 3-Drawer Plastic Storage Cart is a practical storage solution for any home, and at just $48, there’s no better time to add it to your space.

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.

Why we love this deal

Sales are always something to get excited about, but sometimes a product’s original price is just as good as a discount, and the Temlicolo 15.6-Inch Laptop is the latest buy that comes to mind when we think of a great deal. In a world where electronics usually run you a few hundred dollars at minimum, it’s a steal to get a laptop for less than $300 — at least, one that isn’t going to crash on you or need a replacement in less than a year. 

Different devices have their merits and their place, but a laptop is always the easy way to navigate the internet or any document with ease, especially since you get a spacious screen that allows you to clearly see exactly what you’re doing. Tablets and phones are better for their portability and commuting-friendly capabilities, but a laptop is reliable every single time. Now that the Temlicolo 15.6-Inch Laptop is available for $270 at Walmart, you don’t have to worry about choosing between affordability and function. You can get a high-quality, efficient computer for a fairly decent price with no additional shipping cost for a fraction of what similar models go for at the popular retailer right now. 

Temlicolo 15.6-Inch Laptop, $270 at Walmart

Courtesy of Walmart

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Why do shoppers love it?

With an 8 gigabyte random-access memory (GB RAM) and a 256 GB solid-state drive (SSD), this laptop is a reliable, fast processing device that can multitask like a pro and provide enough long-term storage to store whatever you need it to with ease. With 8 GB RAM, the laptop can jump between different apps or Internet windows without lagging or buffering issues, and that, paired with the 256 GB SSD, provides fast boot-up times, quick file access, and enough space to hold about 64,000 photos, 64,000 songs, tens of thousands of Word files, PDFs, and spreadsheets, or roughly 25 hours of high-definition video. There’s even an option to expand that storage, with room to support a 128 GB TransFlash (TF) card, which would add more storage space to your hard drive if you needed it. 

Although the laptop’s full measurements are listed, the screen size measures 15.6 inches on the diagonal, is 0.78 inches thick, and weighs about 3.5 pounds. The large screen gives you more than enough room to clearly read, write, or stream while still being small and lightweight enough to travel with it to the office or the classroom. The HD in-plane switching (IPS) screen has a 1920 x 1080 resolution with an 85% screen-to-body ratio. There’s also an integrated 2-megapixel (MP) camera and built-in microphones for video conferencing and calling. 

With the Windows 11 Pro operating system, you get access to advanced management tools, enhanced security measures, a modern interface that is user-friendly, and other professional and business features. 

Related: Walmart is selling a $1,569 touchscreen HP laptop for 62% off

Battery-wise, the computer is equipped with a 5000 milliampere-hour (mAh) battery that can last between 6 and 8 hours before it needs a recharge. Like most computers, it has the standard Bluetooth 4.2 connectivity, dual-band Wi-Fi, an HDMI port, two USB 3.0 ports, a USB-C port, and a slot for a TF card. 

Details to know

Dimensions: The screen measures 15.6 inches on the diagonal and is 0.78 inches thick. 

Weight: 3.5 pounds. 

Operating system: Windows 11 Pro. 

Storage: 8 GB RAM and 256 GB SSD.   

Although the battery doesn’t last as long as some shoppers would like, most are impressed with its performance. It works quickly and quite well, helping you get the job done, especially for the basics. “It’s affordable and convenient,” one shopper said. 

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Golzer 17.5-Inch Laptop, $400 (was $799) at Walmart

Lenovo Chromebook Plus 15.3-Inch Laptop, $349 (was $399) at Walmart

ASUS Chromebook Laptop, $219 (was $235) at Walmart

It might not be on sale, but for only $270, the Temlicolo 15.6-Inch Laptop is a heck of a deal. Take advantage of the great price and start stocking up on holiday gifts. 

The second trailer for the upcoming Robert Eggers Medieval horror film ‘Werewulf’ dropped today, just in time for the Harvest Moon. There’s a new Alternate Reality Game to solve as well. Here’s what you need to know.

Berkshire Hathaway’s leadership transition is complete, and every income-focused shareholder is watching Greg Abel’s first moves with the company’s record cash pile.

Buffett stepped down as chairman on September 18, 2026, handing the title to his son Howard and leaving Chief Executive Officer Greg Abel in charge, CNBC reported.

Abel inherited $365.5 billion in cash and short-term Treasury bills as of June 2026, a sum large enough to fund several Fortune 500 acquisitions outright, the company’s Form 10-Q showed. 

That cash pile has drawn growing calls from shareholders who viewed the leadership change as Berkshire’s moment to start paying dividends. Abel’s second-quarter spending now offers the clearest look yet at where the new leader plans to direct it.

Abel’s second-quarter spending signals where Berkshire’s cash is headed

Berkshire bought back roughly $4.5 billion of its shares in the second quarter, up from just $235 million in the first quarter, and added approximately $3.3 billion more in buybacks during July 2026, CNBC reported. 

The company committed $10 billion to Alphabet through a private placement announced on June 1, 2026, reported by CNBC, marking one of the largest single equity bets in Berkshire’s history.

Macrae Sykes, a portfolio manager of the Gabelli Equity Trust (GAB), told Reuters that the buyback acceleration reflects management’s conviction that Berkshire shares are significantly undervalued, pointing to the pace of repurchases as evidence that leadership sees strong upside in the stock’s current trading range.

Warren and Greg are terrific investors, and their repurchasing shares gives me confidence in the present value of Berkshire’s shares and growth of intrinsic value going forward,

Cash reserves fell from a record $397.4 billion to $365.5 billion between March 2026 and June 2026, Berkshire’s quarterly filing with the Securities and Exchange Commission showed. 

None of that capital was directed toward a shareholder dividend, reinforcing the buyback-and-acquisition priority Abel outlined in his February letter to shareholders.

Berkshire’s 59-year dividend stance now rests on Abel’s deployment record

Berkshire has issued exactly one dividend since Buffett gained control in 1965, a ten-cent payout in 1967 that Buffett later joked he “must have been in the bathroom” for when the decision was made.

Buffett’s 19.7% compound annual return from 1965 through 2024 made the case for withholding earnings nearly impossible for shareholders to challenge, the 2024 annual shareholders’ letter showed.

The S&P 500 returned 10.4% over that same period, and the compounding gap long justified keeping earnings inside the company. Under Abel, that case now rests on his deployment results rather than on the record Buffett compiled over six decades.

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Berkshire will avoid dividends while retained dollars create more than a dollar of value, Abel wrote in his 2025 annual shareholders’ letter. The board reviews the dividend policy each year but has given no indication of planning to begin regular shareholder payments.

Cash dividends have a structural tax disadvantage because distributions are fully taxable, while buybacks trigger taxes only when shareholders sell. That penalty makes any shift toward regular distributions even less likely at a company that last paid shareholders in 1967.

Berkshire’s dividend-free strategy now hinges on whether Greg Abel can match Buffett’s long-term record of value creation.SOPA Images / Getty Images

Berkshire’s stock performance adds pressure on Abel’s capital strategy

Cathy Seifert, CFRA Research senior vice president, described Abel’s early tenure as a gradual assertion of authority and called the quarterly results a strong beat, Reuters reported. 

Berkshire shares have gained just 1% in 2026, well behind the S&P 500’s rally of more than 11%, CNBC noted.

That performance gap complicates Abel’s case for withholding earnings, since Berkshire stock has not delivered the returns needed to justify its no-dividend policy. 

Brian Meredith, Managing Director at UBS, raised his price target on Berkshire Class A shares to $906,011 with a buy rating, MarketScreener showed.

Abel’s second-quarter scorecard at a glance

The headline numbers from Berkshire’s Q2 filing underline the scale of capital Abel now has to work with, and the returns he needs to sustain if dividends are to remain off the table.

$25.67 billion in net earnings, more than doubling the $12.37 billion from a year earlier, according to Berkshire’s quarterly filing

Alphabet entered Berkshire’s top five equity holdings by market value, joining Apple, American Express, Coca-Cola, and Bank of America, CNBC confirmed

Operating earnings rose 16% to $12.98 billion, with Berkshire Hathaway Energy posting a 27% jump and BNSF railroad climbing 6%, the filing showed

How analysts are reading Abel’s early capital playbook

Abel has signaled through his stated commitments and his second-quarter spending that Berkshire’s priority will remain deploying earnings internally over distributing cash to shareholders. 

Meredith’s bullish price target suggests that at least some analysts see enough upside in the current approach to justify patience from income-seeking shareholders.

Seifert characterized Abel’s leadership as measured and deliberate, suggesting that any shift in dividend policy would unfold slowly, with ample advance signaling. 

That assessment points to the pace at which Berkshire’s cash reserve declines as a clearer indicator of Abel’s direction than any formal board announcement.

Related: Berkshire buys $212 million of tumbling housing stock

Amazon’s stake in Anthropic has grown into the most valuable corporate venture investment in recent memory. 

The artificial intelligence (AI) lab’s upcoming public listing could produce one of the largest returns any company has ever recorded. Despite the financial upside, the company faces a strategic dependency that no other tech giant shares.

Anthropic is expected to go public as soon as October 2026 at a valuation near $2 trillion.

At that price, Amazon would hold the most valuable single-company equity stake in corporate history, Keithen Drury, contributing tech analyst at Motley Fool, estimated on September 23, 2026.

That figure would represent roughly 15% of Amazon’s (AMZN) $2.77 trillion market capitalization, according to INDmoney analysis based on the company’s public filings.

Amazon, unlike every other major Anthropic backer, has no competitive in-house frontier AI model. Alphabet built Gemini and Microsoft locked in OpenAI, but Amazon built its cloud AI strategy around Claude. 

The company reinforced that bet on Amazon’s April 20, 2026, announcement with an expanded strategic collaboration. 

As part of the agreement, Anthropic committed over $100 billion over 10 years to Amazon Web Services (AWS) technologies, while securing up to 5 gigawatts of Trainium capacity.

Amazon’s Anthropic stake dwarfs every other corporate AI bet

Amazon first invested in Anthropic in September 2023 with an initial $4 billion commitment, adding another $4 billion in March 2024, according to Fortune.

By June 2026, that position had ballooned to $190.4 billion on the company’s balance sheet. The total is split between $92.5 billion in non-voting preferred stock and $97.9 billion in convertible notes, according to Amazon’s public filings cited by INDmoney.

Current analyst estimates place Amazon’s ownership between 15% and 20% of Anthropic, while Alphabet holds roughly 10% to 15%, Drury noted. 

At a $2 trillion initial public offering (IPO) price, Amazon’s position would be between $300 billion and $400 billion, and Alphabet’s stake would be between $200 billion and $300 billion.

Amazon booked $16.8 billion in pre-tax gains from its Anthropic holdings in the first quarter of 2026 alone, according to Amazon’s Q1 2026 earnings release. 

That carrying value already reflects Anthropic’s $965 billion valuation from its May 2026 funding round.

A $100 billion cloud deal ties Amazon’s AI future to one company

Anthropic committed to spending more than $100 billion on AWS cloud infrastructure and custom chips over the next decade, Fortune reported. 

The AI lab runs its primary training workloads on more than one million Trainium2 chips through AWS. More than 100,000 customers access Claude through Amazon’s Bedrock platform, according to Anthropic’s April 20 2026, announcement.

Andy Jassy, President and Chief Executive Officer (CEO) of Amazon, framed the partnership as the product of years of joint progress on silicon built to train frontier AI models at lower cost, in a statement issued alongside the April 20, 2026 announcement. 

Our custom AI silicon offers high performance at significantly lower cost for customers, which is why it’s in such hot demand. Anthropic’s commitment to run its large language models on AWS Trainium for the next decade reflects the progress we’ve made together on custom silicon, as we continue delivering the technology and infrastructure our customers need to build with generative AI…

Amazon raised its 2026 capital expenditure plan to about $220 billion from $128 billion in 2025, with AI infrastructure as the primary driver, INDmoney’s analysis showed. 

AWS delivered $42.2 billion in second-quarter revenue, a 37% year-over-year increase that marked its fastest growth in 18 quarters.

The division produced $16.6 billion in operating income at a segment margin near 39%, according to Amazon’s Q2 earnings release.

Amazon’s company-defined free cash flow turned negative at $7.6 billion on a trailing 12-month basis through June 30, 2026, down from a positive $18.2 billion in the prior-year period. 

Infrastructure outlays absorbed all of the company’s $161.4 billion in trailing operating cash flow, INDmoney reported.

Amazon’s massive Anthropic partnership is driving AI infrastructure spending while AWS growth rises and free cash flow turns sharply negative.NurPhoto / Getty Images

Alphabet has Gemini as a fallback, and Amazon does not

All that spending has more risk for Amazon than for Alphabet, because only one of them has built a backup plan. 

Alphabet developed Gemini, its family of large language models (LLMs), giving it a fallback if Anthropic pulls back after the IPO, Drury wrote in the Motley Fool analysis.

Amazon has no comparable option, as its cloud AI offerings center on Claude, and without that model, AWS would lack a frontier offering to compete with Azure’s OpenAI integration or Google Cloud’s native Gemini access. 

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Microsoft also operates its Copilot products and Azure AI stack independently of any single model provider.

Anthropic is diversifying beyond Trainium, securing multiple gigawatts of next-generation Tensor Processing Unit (TPU) capacity through a Google and Broadcom-co-designed agreement announced in April 2026.

It began hiring for an in-house chip design team in August 2026, TechCrunch reported. Once public, Anthropic would have both the capital and the shareholder incentive to accelerate alternatives to Amazon’s Trainium processors.

What Amazon investors face when Anthropic goes independent

Drury concluded that Amazon has the most to gain and the most to lose from this partnership. Alphabet holds the internal resources to recover from a disruption, he wrote. 

Amazon’s position is less flexible, with its equity stake, cloud revenue, and chip credibility all connected to the same company, as INDmoney’s analysis reinforced.

Anthropic’s S-1, once public, will reveal the fully diluted share count, conversion terms, and Amazon’s exact ownership percentage.

As Motley Fool’s Keithen Drury noted in his September 23 2026 analysis, Amazon’s exposure is uniquely tied to Anthropic’s post-IPO commercial behavior. 

That concentration leaves Amazon with no fallback ahead of what could be the largest technology IPO in history.

Related: Anthropic’s $2 trillion IPO could test the limits of AI mania

A $13 billion entertainment acquisition has become a potentially costly court battle that involves billionaire investor Carl Icahn, private equity behemoth Silver Lake and dozens of hedge funds.

Silver Lake’s 2025 purchase of Endeavor, the entertainment firm that included a majority share in TKO Group Holdings (TKO), the owner of UFC and WWE, among its assets, is the question.

Silver Lake agreed to buy Endeavor in 2024 for $27.50 a share. According to the original transaction announcement filed with the SEC, the deal valued Endeavor at $13 billion of equity value and $25 billion of consolidated enterprise value.

The offer represents a 55% premium to Endeavor’s unmodified share price prior to Silver Lake’s public disclosure of its takeover bid.

In its official merger proxy, Endeavor stated a special committee consisting only of independent and disinterested directors studied, analyzed, and negotiated the acquisition before unanimously approving it.

The purchase was finally finalized on March 24, 2025, and Endeavor’s publicly listed stock ceased trading on the New York Stock Exchange.

The battle, however, over what those shares were really worth was not over.

Some hedge funds and other investors began to acquire shares in Endeavor after the transaction was revealed, as part of a specific technique known as appraisal arbitrage.

Those investors are looking to utilize Delaware’s appraisal procedure to claim that their shares were worth more than Silver Lake paid.

Silver Lake wants to put a stop to them.

The private equity company on Sept. 21 sued Icahn and scores of hedge funds in Delaware’s Court of Chancery seeking a rule that would bar investors who bought Endeavor shares after the acquisition announcement from obtaining appraisal claims, Reuters said.

The stakes might be huge.

Silver Lake could avoid paying hundreds of millions of dollars more than the purchase price if the verdict goes its way.

Silver Lake challenges hedge funds over Endeavor deal

The case revolves around an oddity of Delaware company law.

Shareholders who are entitled to do so may request an appraisal in the Delaware Court of Chancery under Section 262 of the Delaware General Corporation Law. The Court of Chancery shall evaluate the fair worth of their shares according to the standards set out in the legislation.

An appraisal lawsuit, as opposed to a classic shareholder class action, applies exclusively to the shares owned by the investors who bring the claim.

The court looks at the facts on valuation and decides what the fair value of the shares is. The value may be more or less than the amount paid in the transaction.

That technique put Endeavor squarely on the radar of investors who specialize in valuation arbitrage.

The reason involved TKO.

Endeavor has a majority investment in TKO Group Holdings, which owns UFC and WWE. Silver Lake and its affiliates beneficially controlled around 61% of TKO’s voting securities at the closing of the deal, TKO said in an SEC filing, noting that Silver Lake obtained control of TKO through its purchase of Endeavor.

Reuters quoted Silver Lake’s complaint as saying that TKO stock shot up after the Endeavor transaction was announced, and appraisal-focused hedge funds started buying up Endeavor shares.

Some investors acquired Endeavor shares at prices above the deal’s $27.50 price.

Silver Lake says such investors are not the kind of shareholders the Delaware appraisal system was intended to protect.

Related: One buyout rumor just turned these stocks into targets

The issue did not start only when the purchase was completed.

Silver Lake also spoke openly to investors who took substantial stakes in Endeavor and demanded appraisal rights before the deal closed.

In a March 2025 statement filed with the SEC, Silver Lake said it believed $27.50 represented a fair price for Endeavor and criticized investors who had purchased shares after the transaction was announced and then sought appraisal.

Silver Lake further indicated that stockholders seeking appraisal will not receive the merger consideration while their claims are outstanding.

That prior warning gives essential background to the present lawsuit: Silver Lake’s dispute with appraisal-focused investors was simmering before the Endeavor purchase was even completed.

The private equity firm’s newest claim still faces a major judicial challenge.

Delaware courts have already addressed appraisal arbitrage when investors purchased shares after a deal was publicized. In one Delaware Court of Chancery appraisal case, the court rejected an effort to impose a share-tracing requirement that was not part of the appraisal legislation.

The precedent does not resolve the present allegations. But it does help explain why Silver Lake is asking the Court of Chancery to review the limits of a tactic sophisticated investors have used in Delaware mergers.

Carl Icahn lands in middle of $13 billion Wall Street fightBloomberg / Getty Images

Carl Icahn’s fight with Silver Lake takes a different path

Icahn’s involvement in the fight is a little different from the other hedge firms, who are pushing for an assessment.

The rich investor didn’t file an appraisal action.

Instead, Icahn filed a separate complaint, claiming in a class action that Endeavor’s management and Silver Lake violated its fiduciary obligations to shareholders and diverted Endeavor assets for insider profit, Reuters said.

A lawyer for the hedge funds refused to comment to Reuters.

Silver Lake’s latest complaint claims Icahn colluded with appraisal-focused hedge funds to buy shares in Endeavor. The accusation was refuted by Icahn and the funds, Reuters said.

Some of the funds were also charged by Silver Lake for failing to file mandatory securities reports about their Endeavor acquisitions.

The charges add another layer to a fight that was already focused on what Endeavor was really worth when Silver Lake took it private.

Icahn is well acquainted with shareholder battles.

The billionaire investor made much of his name as an activist investor, acquiring interests in firms and demanding boards and management teams make changes he thought would boost shareholder value.

But the Endeavor issue puts him at odds with one of the world’s biggest technology-focused private equity investors and places him in a larger battle over how investors may challenge take-private deals in Delaware.

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That greater context might be essential.

Delaware legislators in 2025 amended the state’s corporate law to make it tougher to file lawsuits related to certain transactions involving controlling or significant shareholders and harder to obtain company data for investigations of alleged conflicts of interest, according to Reuters.

The number of appraisal lawsuits in Delaware has been on the rise since then.

There are a few plausible reasons.

The price of purchase may be underestimated by more and more investors in the stock. The revised standards have also made traditional fiduciary obligation lawsuits more difficult.

Investors may also get access to private business records via appraisal processes.

The Silver Lake controversy is larger than a fight over one entertainment firm.

Silver Lake case could test a growing Wall Street strategy

The investing idea behind appraisal arbitrage is pretty simple.

An investor buys shares of a firm after an acquisition is announced, then searches for appraisal rights in Delaware.

The investor is essentially wagering that the court’s finding of fair value will come out better than accepting the merger deal.

But no payout is promised; the court’s appraisal might swing either way.

Silver Lake said the hedge firms involved in the Endeavor deal are leveraging a legal loophole to make money, not for its original purpose.

Meanwhile, the appraisal-focused investors are working in a legal environment where Delaware courts have previously allowed appraisal claims to be pursued for shares acquired following a merger announcement.

The new case now pits those contending viewpoints head-to-head before the Court of Chancery.

And what happens next may be worth a lot of money.

Silver Lake bought Endeavor for $27.50 a share in a deal worth $13 billion in equity value. The ensuing TKO performance made Endeavor’s underlying value more crucial for appraisal-focused investors.

Endeavor’s disappearance from the public market did nothing to diminish the relevance of TKO.

When Silver Lake announced the closing of the Endeavor transaction, it clearly stated that privately owned Endeavor would maintain its majority ownership position in TKO.

Now Silver Lake is seeking to prevent the appraisal technique from making the Endeavor transaction much more costly.

The case also underscores an unexpected impact of Delaware’s shifting corporate-law climate for investors.

Rules aimed at curbing certain shareholder lawsuits may be pushing savvy investors toward an alternative legal tactic.

That means Silver Lake’s battle isn’t only about the amount it paid for Endeavor.

Challenging a Wall Street deal on the chance the price wasn’t high enough is tough.

Related: Carl Icahn just made a troubling move with this embattled stock