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STREAM TV NETWORKS, INC. v. SEECUBIC, INC.

No. 360, 2021.

279 A.3d 323 (2022)

STREAM TV NETWORKS, INC., Plaintiff Below, Appellant, v. SEECUBIC, INC., Defendant Below, Appellee, SeeCubic, Inc., Counterclaimant and Third-Party Plaintiff Below, Appellee, v. Stream TV Networks, Inc., Counterclaim Defendant Below, Appellant, and Mathu Rajan and Raja Rajan, Third-Party Defendants Below, Appellants.

Supreme Court of Delaware.

Decided: June 15, 2022.

Attorney(s) appearing for the Case

Andrew S. Dupre, Esquire (argued), Brian R. Lemon, Esquire , Steven P. Wood, Esquire , Sarah E. Delia, Esquire , Stephanie H. Dallaire, Esquire of McCarter & English, LLP, Wilmington, Delaware for Appellants.

Robert S. Saunders, Esquire , Jenness E. Parker, Esquire (argued), Bonnie W. David, Esquire , Lilianna Anh P. Townsend, Esquire , Trevor T. Nielson, Esquire of Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, Delaware. Of Counsel: Eben P. Colby, Esquire , Marley Ann Brumme, Esquire of Skadden, Arps, Slate, Meagher & Flom LLP, Boston, Massachusetts for Appellee.

Before SEITZ, Chief Justice; VALIHURA, VAUGHN, TRAYNOR, and MONTGOMERY-REEVES, Justices, constituting the Court en Banc.

We address whether approval of a corporation's Class B stockholders was required to transfer pledged assets to secured creditors in connection with what was, in essence, a privately structured foreclosure transaction. Stream TV Network, Inc. ("Stream" or the "Company"), along with Mathu and Raja Rajan,1

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