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SALZBERG v. SCIABACUCCHI

No. 346, 2019.

227 A.3d 102 (2020)

Matthew B. SALZBERG, Julie M.B. Bradley, Tracy Britt Cool, Kenneth A. Fox, Robert P. Goodman, Gary R. Hirshberg, Brian P. Kelley, Katrina Lake, Steven Anderson, J. William Gurley, Marka Hansen, Sharon McCollam, Anthony Wood, Ravi Ahuja, Shawn Carolan, Jeffrey Hastings, Alan Hendricks, Neil Hunt, Daniel Leff, and Ray Rothrock, Defendants Below, Appellants, and Blue Apron Holdings, Inc., Stitch Fix, Inc., and Roku, Inc., Nominal Defendants Below, Appellants, v. Matthew SCIABACUCCHI, on behalf of himself and all others similarly situated, Plaintiff Below, Appellee.

Supreme Court of Delaware.

Decided: March 18, 2020.

Revised: April 14, 2020.

Attorney(s) appearing for the Case

William B. Chandler, III, Esquire , (argued), Bradley D. Sorrels, Esquire , Lindsay Kwoka Faccenda, Esquire , Andrew D. Berni, Esquire , WILSON SONSINI GOODRICH & ROSATI, P.C., Wilmington, Delaware; Boris Feldman, Esquire , David J. Berger, Esquire , WILSON SONSINI GOODRICH & ROSATI, P.C., Palo Alto, California; Attorneys for Defendants-Appellants Katrina Lake, Steven Anderson, J. William Gurley, Marka Hansen, Sharon McCollam, Anthony Wood, Ravi Ahuja, Shawn Carolan, Jeffrey Hastings, Alan Hendricks, Neil Hunt, Daniel Leff, Ray Rothrock, Stitch Fix, Inc., and Roku, Inc.

Catherine G. Dearlove, Esquire , Anthony M. Calvano, Esquire , Tyre Tindall, Esquire , RICHARDS LAYTON & FINGER, P.A., Wilmington, Delaware; Michael G. Bongiorno, Esquire , WILMER CUTLER PICKERING HALE & DORR, LLP, New York, New York; Timothy J. Perla, Esquire , WILMER CUTLER PICKERING HALE & DORR, LLP, Boston, Massachusetts; Attorneys for Defendants-Appellants Matthew B. Salzberg, Julie M.B. Bradley, Tracy Britt Cool, Kenneth A. Fox, Robert P. Goodman, Gary R. Hirshberg, Brian P. Kelley, and Blue Apron Holdings, Inc.

Kurt M. Heyman, Esquire , Melissa N. Donimirski, Esquire , Aaron M. Nelson, Esquire , HEYMAN ENERIO GATTUSO & HIRZEL LLP, Wilmington, Delaware; Jason M. Leviton, Esquire , Joel A. Fleming, Esquire , (argued), Lauren Godles Milgroom, Esquire , Amanda R. Crawford, Esquire , BLOCK & LEVITON LLP, Boston, Massachusetts; Attorneys for Plaintiff-Appellee Matthew Sciabacucchi.

Before SEITZ, Chief Justice; VALIHURA, VAUGHN, and TRAYNOR, Justices; and KARSNITZ, Judge, constituting the Court en Banc.

We are asked to determine the validity of a provision in several Delaware corporations' charters requiring actions arising under the federal Securities Act of 1933 (the "Securities Act" or "1933 Act") to be filed in a federal court. Blue Apron Holdings, Inc., Roku, Inc., and Stitch Fix, Inc. are all Delaware...

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