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COMET SYSTEMS, INC. v. MIVA, INC.

C.A. No. 2793-VCL.

980 A.2d 1024 (2008)

COMET SYSTEMS, INC. SHAREHOLDERS' AGENT, and James Rosen, Thomas Schmitter and Douglas Stern, Individually and in their capacities as all of the members of the Comet Systems Inc. Shareholders' Agent, Plaintiffs, v. MIVA, INC., f/k/a FindWhat.com, a Florida Corporation, Defendant.

Court of Chancery of Delaware.

Decided: October 22, 2008.

Attorney(s) appearing for the Case

Kurt M. Heyman, Esquire, Patricia L. Enerio, Esquire, Proctor Heyman LLP, Wilmington, Delaware; Stephen M. Kramarsky, Esquire, Dewey Pegno & Kramarsky LLP, New York, New York, Attorneys for the Plaintiffs.

Kevin R. Shannon, Esquire, Michael A. Pittinger, Esquire, Abigail M. LeGrow, Esquire, Potter Anderson & Corroon LLP, Wilmington, Delaware, Attorneys for the Defendant.

OPINION

LAMB, Vice Chancellor.

This breach of contract case arises out of a dispute between the former stockholders of a software company and a successor entity which purchased that company over the interpretation and performance of the earnout provisions of the merger agreement in which those stockholders were bought-out. The former stockholders have moved for partial summary judgment as to the first count of their verified complaint, and the purchasers...

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