Schlumberger Industries, Inc. v. Borough of Avalon

In Schlumberger Industries, Inc. v. Borough of Avalon, 252 N.J. Super. 202, 211-12, 599 A.2d 589 (App.Div.1991), certif. denied, 130 N.J. 8, 611 A.2d 648 (1992), the Court recognized that a bidder's later clarification of the commonly-known fact that it was a wholly-owned subsidiary of a large public corporation with no single 10% shareholders did not impact upon the bidding process in a manner implicating the bid award biases that the mandate of N.J.S.A. 52:25-24.2 was intended to preclude. However, the Court specifically noted that "if there had been undisclosed shareholders holding 10% or more of the stock or if the identity of even a public company had been purposely withheld, the bid might properly have been rejected." Id. at 212, 599 A.2d 589.