Chancery Tosses Blucora Investor's Repeat Derivative Suit

Law360 (October 26, 2018, 9:03 PM EDT) -- A repeatedly litigated stockholder suit accusing top officials of former e-commerce company Blucora Inc. of bad faith and insider dealings cratered in Delaware’s Chancery Court on Friday, with a vice chancellor dismissing all claims as both prematurely filed and not viable.

Vice Chancellor Joseph R. Slights III’s dismissal of all six counts against the company — now a provider of technology for tax preparation and wealth management — marked a third strike for the derivative action. It had previously sought damages on behalf of the company in Washington state in 2015 and in California in 2016 before landing in Delaware in November...

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