Del. Justices Press For More In Tossed Dilution Suit Appeal
Law360 (September 11, 2019, 8:53 PM EDT) -- Delaware Supreme Court justices pressed for better arguments Wednesday that stockholders appealing for resurrection of a dismissed suit were victims of unfair action by controlling shareholders who engineered massive dilution of their shares in health care tech company IDEV Technologies Inc.
Thad J. Bracegirdle of Wilks Lukoff & Bracegirdle LLC, counsel for IDEV founder Jeffrey J. Sheldon and Dr. Andras Konya, told a three-justice panel that Vice Chancellor Morgan T. Zurn incorrectly rejected claims that the two were directly harmed by the actions of three venture capital firms that controlled more than 60 percent of the company’s stock.
The alleged controllers, affiliates...
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!