Ex-Wanu Water CEO's Conspiracy Suit Tossed In Chancery

Law360 (February 14, 2020, 8:32 PM EST) -- A Delaware vice chancellor on Friday tossed a lawsuit by the founder and ex-CEO of nutrition-infused water startup Wanu Water, saying he failed to show enough evidence to support assertions that a former director engaged in a "conspiracy" to plot his ouster through a defamatory smear campaign.

In a 34-page memorandum opinion, Vice Chancellor Kathaleen S. McCormick said that the suit filed by Wanu Water Inc. and the company's founder, president and chairman Todd O'Gara failed to plead enough facts to support claims lodged against former director Sheldon Coleman and two entities affiliated with him.

"This decision holds that the complaint...

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