Del. Judge Tosses Invalid Shares Suit As 12 Years Too Late

Law360, New York (August 4, 2016, 2:16 PM EDT) -- A Delaware Chancery judge has tossed a Tradeworx Inc. investor's suit that sought to void more than 1 million Tradeworx shares held by asset manager WisdomTree Investments Inc., saying the investor waited too long to sue.

Harold Kraft in March 2015 sued WisdomTree, saying that the company in 2000 received shares of Tradeworx stock in exchange for future advertising services — an arrangement Kraft claimed was not allowed under Delaware law at the time. Chancellor Andre Bouchard on Wednesday said that Kraft had filed his suit well outside of the allowable window.

"The statutory period expired almost twelve years before suit...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!