This week, a Delaware Chancery Court judge will consider the company’s request to make Golden Rule Financial Corp. pay up.
More from the court calendar this week:
Monday: Gener8 LLC v. Castanon, Del. Ch., No. 2022-0426, trial begins 1/30/23.
At issue: Medical device firm Gener8 LLC claims the founder of a subsidiary it acquired in 2020, Symbient Product Development LLC, created a new company to compete directly with Gener8 and poach its employees and clients. Scott Castanon says his new company, Protoshop, doesn’t violate any post-closing restrictive covenants and Symbient experienced significant employee turnover overall after its acquisition by Gener8.
Court action: Three-day trial opens Monday in Wilmington, Del.
Tuesday: SPay Inc. v. Stack Media Inc., Del. Ch., No. 2020-0540, hearing 1/31/23.
At issue: Stack Sports, which runs payment and logistics software platforms for sports leagues, claims it was duped into acquiring Stack Media Inc. in 2017 by its founders, who fraudulently concealed dependence on a single large customer, mobile advertising company Mundo Media. The plaintiffs and the defendants now blame each other for the loss of emails sought as evidence in the case.
Court action: Spoliation motion
Stack Sports Hits Stack Media With Fraud, Theft Suit Over Merger
Wednesday: Golden Rule Fin. Corp. v. Shareholder Rep. Servs. LLC, Del. Ch., No. 2022-0065, oral argument 2/1/23.
At issue: A UnitedHealth Group Inc. unit sued the former owners of a business it bought for $750 million over their sales agreement. The defendants have asked the court to order UnitedHealth subsidiary Golden Rule Financial Corp. to pay them money owed from previous litigation, plus interest and legal fees.
Court action: Motion for partial summary judgment
UnitedHealth Unit Reopens Fight Over $750 Million Insurer Deal
Friday: Politan Capital Mgmt LP v. Kiani, Del. Ch., No. 2022-0948, hearing 2/3/23.
At issue: Politan Capital Management sued medical device company Masimo Corp. over what an activist investor called “draconian” amendments to its bylaws. Masimo responded with a counterclaim asking the judge to validate disclosure requirements it imposed on anyone nominating directors to the board.
Court action: Motion to dismiss, motion to compel, and motion to quash
Masimo Seeks to Toss Activist Politan’s Lawsuit in Board Fight