MILLENCO v. MEVC DRAPER FISHER

No. Civ.A. 19523.

824 A.2d 11 (2002)

MILLENCO L.P., Plaintiff, v. meVC DRAPER FISHER JURVETSON FUND I, INC., John M. Grillos, Larry J. Gerhard, Harold E. Hughes, Jr., and Chauncey F. Lufkin, Defendants.

Court of Chancery of Delaware.

Decided December 19, 2002.


Attorney(s) appearing for the Case

Joseph A. Rosenthal, Carmella P. Keener, Rosenthal, Monhait, Gross & Goddess, P.A., Wilmington, Delaware, and Richard W. Cohen, David C. Harrison, Michelle Rego, Lowey Dannenberg Bemporad & Selinger, P.C., White Plains, New York, for Plaintiff.

Martin P. Tully, David J. Teklits, Thomas W. Brigs, Jr., Morris, Nichols, Arsht & Tunnell, Wilmington, Delaware, and Jonathan L. Greenblatt, Neil H. Koslowe, Sherman & Sterling, Washington, D.C., for Defendants.


OPINION AND ORDER

LAMB, Vice Chancellor.

I.

The plaintiff in this action is Millenco L.P., a privately owned company engaged in the business of investing for profit. Millenco is the largest stockholder of the defendant meVC Draper Fisher Jurvetson Fund I, Inc. (the "Fund"), owning over 6.3% of the Fund shares, purchased on the open market for a total purchase price of more than $10 million. Millenco has owned those shares continuously since...

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