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BUZZFEED, INC. v. ANDERSON

C.A. No. 2022-0357-MTZ.

BUZZFEED, INC., JONAH PERETTI, FELICIA DELLAFORTUNA, KATIE SITTER, and ADAM ROTHSTEIN, Plaintiffs, v. HANNAH ANDERSON, et al. Defendants.

Court of Chancery of Delaware.

Decided: October 28, 2022.

Attorney(s) appearing for the Case

Rolin P. Bissell, Elena C. Norman, Kevin P. Rickert, YOUNG CONAWAY STARGATT & TAYLOR, LLP, Wilmington, Delaware; Mary Eaton, Thomas Walsh, Nicholas Caselli, FRESHFIELDS BRUCKHAUS DERINGER US LLP, New York, New York, Attorneys for Plaintiffs BuzzFeed, Inc., Jonah Peretti, Felicia DellaFortuna, and Katie Sitter.

Rolin P. Bissell, Elena C. Norman, Kevin P. Rickert, YOUNG CONAWAY STARGATT & TAYLOR, LLP, Wilmington, Delaware; Jonathan Kortmansky, Melissa Ginsberg, BRAUNHAGEY & BORDEN LLP, New York, New York, Attorneys for Plaintiff Adam Rothstein.

David A. Felice, BAILEY & GLASER, LLP, Wilmington, Delaware; Kevin D. Galbraith, Taylor N. Perretti, THE GALBRAITH LAW FIRM, New York, New York; Sean R. O'Brien, A.J. Monaco, O'BRIEN LLP, New York, New York; Yonaton Aronoff, Joseph Gallagher, HARRIS ST. LAURENT & WECHSLER LLP, New York, New York, Attorneys for Defendants..

MEMORANDUM OPINION

The defendants in this action were employees of the media and entertainment company known as Buzzfeed. Part of the defendants' compensation included stock options in their employer, a private company named BuzzFeed, Inc. ("Old Buzzfeed"). Last year, Old Buzzfeed engaged in a SPAC transaction in...

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