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XRI INV. HOLDINGS LLC v. HOLIFIELD

C.A. No. 2021-0619-JTL.

283 A.3d 581 (2022)

XRI INVESTMENT HOLDINGS LLC, Plaintiff, v. Gregory A. HOLIFIELD and GH Blue Holdings, LLC, Defendants.

Court of Chancery of Delaware.

Date Decided: September 19, 2022.

Attorney(s) appearing for the Case

A. Thompson Bayliss , John M. Seaman , Eric A. Veres , Daniel J. McBride , ABRAMS & BAYLISS LLP, Wilmington, Delaware; Margaret H. Allen , Yolanda C. Garcia , Angela C. Zambrano , SIDLEY AUSTIN LLP, Dallas, Texas; Attorneys for Plaintiff.

Michael W. McDermott , Richard I. G. Jones, Jr. , David B. Anthony , Zachary J. Schnapp , BERGER HARRIS LLP, Wilmington, Delaware; Attorneys for Defendants.

OPINION

Defendant Gregory Holifield is a co-founder and member of XRI Investment Holdings LLC ("XRI" or the "Company"). In June 2018, Holifield formed defendant GH Blue Holdings, LLC ("Blue") as a single-member LLC. He then transferred all of his Class B units in XRI to Blue (the "Blue Transfer").

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