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FAIRSTEAD CAPITAL MGMT. LLC v. BLODGETT

C.A. No. 2022-0673-JTL.

288 A.3d 729 (2023)

FAIRSTEAD CAPITAL MANAGEMENT LLC and FCM Affordable LLC, Plaintiffs, v. William BLODGETT, Defendant.

Court of Chancery of Delaware.

Date Decided: January 6, 2023.

Attorney(s) appearing for the Case

Ryan Stottmann , Thomas P. Will , MORRIS, NICHOLS, ARSHT & TUNNELL LLP, Wilmington, Delaware; Michael B. Carlinsky , Rollo C. Baker , Jonathan Feder , Alison Lo , QUINN EMANUEL URQUHART & SULLIVAN, LLP, New York, New York; Attorneys for Plaintiffs.

David E. Ross , Holly E. Newell , A. Gage Whirley , ROSS ARONSTAM & MORITZ LLP; Wilmington, Delaware; Jacob W. Buchdahl , Elisha B. Barron , SUSMAN GODFREY L.L.P., New York, New York; Attorneys for Defendant.

OPINION

The investment fund complex at the center of this case operates under the trade name "Fairstead." Like many fund complexes, Fairstead is a thicket of affiliated entities. Until the dispute giving rise to this case, three human principals controlled the structure, but there was and remains no single, overarching entity...

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