TransPerfect Co-CEO Loses Challenge To Court-Forced Sale
Law360, New York (September 26, 2017, 10:40 PM EDT) -- The embattled co-CEO of TransPerfect Global Inc. suffered another defeat Tuesday in his contentious campaign to undo a state court-ordered sale of the company when a Delaware federal court dismissed his suit challenging the sale, saying it amounted to an improper attempt to appeal a state court’s decision.
Philip R. Shawe filed the suit in March, arguing the order that forced the sale of the $500 million-a-year translation services company violated the due process and takings clauses of the Constitution. Delaware Chancellor Andre G. Bouchard ordered that TransPerfect be sold in 2015 because Shawe and his co-CEO, Elizabeth Elting, were hopelessly...
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