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GLIDEPATH LIMITED v. BEUMER CORPORATION

C.A. No. 12220-VCL.

GLIDEPATH LIMITED and SIR KEN STEVENS, KNZM, Plaintiffs, v. BEUMER CORPORATION, GLIDEPATH LLC, THOMAS DALSTEIN, and FINN PEDERSEN, Defendants.

Court of Chancery of Delaware.

Decided: February 21, 2019.

Attorney(s) appearing for the Case

Francis G.X. Pileggi , Gary W. Lipkin , Alexandra D. Rogin , ECKERT SEAMANS CHERIN & MELLOTT, LLC, Wilmington, Delaware; Attorneys for Plaintiffs.

Benjamin A. Smyth , McCARTER & ENGLISH, LLP, Wilmington, Delaware; William D. Wallach , McCARTER & ENGLISH, LLP, Newark, New Jersey; Attorneys for Defendants.

MEMORANDUM OPINION

Glidepath LLC (the "Company") is a Delaware limited liability company. The plaintiffs sold the Company to defendant Beumer Corporation (the "Buyer") in a two-stage transaction. In the first stage, the Buyer purchased a 60% member interest in the Company from the plaintiffs and took over management of the...

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