By Caroline Wong and Natalie Piazza ( September 11, 2026, 3:12 PM EDT) -- In Le Clair v. KnowBe4 Inc., the Delaware Court of Chancery on May 27 dismissed a putative class action brought by former stockholders who claimed that two institutional investors and KnowBe4's CEO had joined forces as a control group, and that the directors who approved the resulting take-private deal breached their fiduciary duties.[1] The Court of Chancery rejected the control-group theory outright and held that, even assuming the board was conflicted, a fully informed stockholder vote cleansed the transaction....
Law360 is on it, so you are, too.
A Law360 subscription puts you at the center of fast-moving legal issues, trends and developments so you can act with speed and confidence. Over 200 articles are published daily across more than 60 topics, industries, practice areas and jurisdictions.
A Law360 subscription includes features such as
- Daily newsletters
- Expert analysis
- Mobile app
- Advanced search
- Judge information
- Real-time alerts
- 450K+ searchable archived articles
And more!
Experience Law360 today with a free 7-day trial.