Court of Chancery of Delaware
Thoughtworks, Inc. v. SV Inv. Partners, LLC, 1695-N
In a dispute involving efforts by a minority investor to redeem its preferred stock pursuant to a company's certificate of incorporation, the court determines that the plain language of the company's charter requires the company to immediately redeem its preferred stock using any legally available funds and obligates the company to obtain the consent of preferred holders before increasing its line of credit.
Appellate Information
- Decided 06/30/2006
- Published 07/19/2006
Judges
Court
- Court of Chancery of Delaware
Counsel
- For Appellant:
- Kenneth J. Nachbar, Esquire, S. Mark Hurd, Esquire, Morris Nichols Arsht & Tunnell LLP, Wilmington, Delaware; Brian D. Roche, Esquire, Christopher R. Clark, Esquire, Michele L. Walton, Esquire, Sachnoff & Weaver, Ltd., Chicago, Illinois, Attorneys for the Plaintiff.
- For Appellees:
- Bruce L. Silverstein, Esquire, Danielle Gibbs, Esquire, Karen Lantz, Esquire, Young Conaway Stargatt & Taylor, LLP, Wilmington, Delaware; Daniel M. Abuhoff, Esquire, Justin P. Smith, Esquire, Eliza M. Sporn, Esquire, Debevoise & Plimpton LLP, New York, New York, Attorneys for the Defendants.