PRAIRIE CAPITAL v. DOUBLE E HOLDING CORP.

C.A. No. 10127-VCL.

132 A.3d 35 (2015)

PRAIRIE CAPITAL III, L.P., a Delaware limited partnership, on behalf of Sellers of Double E Parent, LLC, Plaintiff, v. DOUBLE E HOLDING CORP., a Delaware corporation, Defendant. Double E Holding Corp., a Delaware corporation, and Incline Equity Partners III, L.P., a Delaware limited partnership, Cross-Complaint Plaintiffs, v. Daniels & King Capital III, LLC, a Delaware limited liability company, Prairie Capital III, L.P., a Delaware limited partnership, Prairie Capital III QP, L.P., a Delaware limited partnership, Mark B. Fortin, an individual and Jeffrey Vancura, an individual, Cross-Complaint Defendants.

Court of Chancery of Delaware.

Decided: November 24, 2015.


Attorney(s) appearing for the Case

David S. Eagle , Sean M. Brennecke , Klehr Harrison Harvey Branzburg LLP, Wilmington, Delaware; Bonita Stone , James Hutchison , Evan B. Elsner , Katten Muchin Rosenman LLP, Chicago, Illinois; Counsel for the Plaintiff Prairie Capital III, L.P., and Cross-Complaint Defendants Prairie Capital III QP, L.P., and Daniels & King Capital III, LLC.

Kenneth J. Nachbar , Christopher P. Quinn , Morris, Nichols, Arsht & Tunnel LLP, Wilmington, Delaware; Morgan J. Hanson , Fridrikh V. Shrayber , Cohen & Grigsby, P.C., Pittsburgh, Pennsylvania; Counsel for Defendant Double E Holding Corp. and Cross-Complaint Plaintiff Incline Equity Partners III, L.P.

Francis G.X. Pileggi , Aimee M. Czachorowski , Eckert Seamans Cherin & Mellot, LLC, Wilmington, Delaware; Matthew Baltay , Kevin J. Conroy , Foley Hoag LLP, Boston, Massachusetts; Counsel for Cross-Complaint Defendants Mark B. Fortin and Jeffrey Vancura.


OPINION

This case arises out of the sale of a portfolio company by one private equity firm to another. The portfolio company was Double E Parent LLC ("Double E" or the "Company"). The principal sellers were Prairie Capital, III, L.P. and Prairie Capital III QP, L...

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