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Chancery Finds Ex-CEO In Contempt In Biopharma IP Suit

Law360, Wilmington (May 22, 2019, 9:26 PM EDT) -- A biopharmaceutical company physician-investor was ruled in contempt Wednesday for failing to maintain the Delaware Chancery Court-ordered status quo in a suit challenging his transfer of all intellectual property from a venture he directed to one he created and purportedly controlled.

Vice Chancellor Joseph R. Slights III also took a motion from Macrophage Therapeutics Inc. under advisement asking for summary judgment against Dr. Michael M. Goldberg, its founder and former CEO, who is accused of wrongly moving its assets to a new company under his control and breaching his fiduciary duty and duties of care and loyalty. The company is also...

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