TYGON PEAK CAPITAL MANAGEMENT, LLC v. MOBILE INVESTMENTS INVESTCO, LLC

C.A. No. 2019-0847-MTZ.

TYGON PEAK CAPITAL MANAGEMENT, LLC (f.k.a. TIGER PEAK CAPITAL HOLDINGS, LLC), Plaintiff, v. MOBILE INVESTMENTS INVESTCO, LLC; MOBILE INVESTORS, LLC; VOICE COMM, LLC; ROCK WAVE CAPITAL LLC; ROCKWAVE VC INVESTOR, LLC; DANIEL GOLDBERG, in his individual capacity and in his capacities as President of Rock Wave Capital LLC, as representative of Rockwave VC Investor, LLC, and as a Board Manager of Mobile Investments Investco, LLC; SEVEN SHORES VOICECOMM, LLC; ANDREW CAPLAN, in his capacity as Manager of Seven Shores Voicecomm, LLC and a Board Manager of Mobile Investors, LLC and Mobile Investments Investco, LLC; OLD MILL PARTNERS 2626, LLC, and CARL THORSBERG, in his capacity as representative of Old Mill Partners 2626, LLC and as a Board Manager of Mobile Investments Investco, LLC, Defendants.

Court of Chancery of Delaware.

Decided: January 4, 2022.


Attorney(s) appearing for the Case

Marc S. Casarino, Karine Sarkisian , and Kelly Rowe , WHITE AND WILLIAMS LLP, Wilmington, Delaware; Jarrod D. Shaw and Keisha O. Coleman , MCGUIRE WOODS LLP, Pittsburgh, Pennsylvania, Attorneys for Plaintiff.

Kevin M. Gallagher , Angela Lam , and Christian C.F. Roberts , RICHARDS, LAYTON, & FINGER, P.A., Wilmington, Delaware, Attorneys for Defendants Mobile Investments Investco, LLC, Mobile Investors, LLC, Voice Comm, LLC, Rock Wave Capital LLC, Rockwave VC Investor, LLC, Daniel Goldberg, Seven Shores Voicecomm, LLC, Andrew Caplan, and Carl Thorsberg.


MEMORANDUM OPINION

This action stems from a years-long dispute between a venture capital firm and its coinvestors in a supply chain management company. Before they acquired the company, the investors first entered into a term sheet, which provided for reimbursement of certain transaction expenses...

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