SV INV. PARTNERS, LLC v. THOUGHTWORKS, INC.

C.A. No. 2724-VCL.

7 A.3d 973 (2010)

SV INVESTMENT PARTNERS, LLC, Schroder Ventures U.S. Fund L.P. 1, Schroder Ventures U.S. Fund L.P. 2, Sitco Nominees, Ltd. VC 04001, and SV (Nominees) Limited, Plaintiffs, v. THOUGHTWORKS, INC.

Court of Chancery of Delaware.

Decided: November 10, 2010.


Attorney(s) appearing for the Case

Martin S. Lessner , Danielle Gibbs , Tammy L. Mercer , Young Conaway Stargatt & Taylor, LLP, Wilmington, Delaware; Daniel M. Abuhoff , Justin P. Smith , Eliza Sporn Fromberg , Debevoise & Plimpton LLP, New York, New York; Attorneys for Plaintiffs.

Kenneth J. Nachbar , Jeffrey R. Wolters , Megan Ward Cascio , Christine Dealy Haynes , Eric S. Wilensky , Morris, Nichols, Arsht & Tunnell LLP, Wilmington, Delaware; Attorneys for Defendant.


OPINION

LASTER, Vice Chancellor.

The plaintiffs are a group of affiliated investment funds and their advisor, SV Investment Partners, LLC (collectively, "SVIP"). In 2000, they purchased over 94% of the Series A Preferred Stock (the "Preferred Stock") issued by the defendant ThoughtWorks, Inc. ("ThoughtWorks" or the "Company"). The amended and restated certificate of incorporation of ThoughtWorks dated April 5, 2000 (the "Charter") granted the holders...

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