Ex-Cryptofund Member's Cashout Sinks His Inspection Bid

Law360 (May 29, 2019, 6:54 PM EDT) -- A former member of cryptocurrency investment fund Polychain Fund I LP lost his bid for an inspection of the fund's books and records Wednesday when a Delaware Chancery Court judge said he extinguished those rights when he cashed out his investment in late 2017.

In an opinion from Vice Chancellor Joseph R. Slights III, the court granted a motion for judgment on the pleadings made by Polychain and determined that former member Harry Greenhouse lacked standing to bring his suit for inspection of the fund's records because he sought and received a cashout payment of his investment account before filing suit....

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