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RAMCO ASSET MANAGEMENT, LLC, v. USA RARE EARTH, LLC

C.A. No. 2022-0665-SG.

RAMCO ASSET MANAGEMENT, LLC, US TRADING COMPANY METALS RE, LLC, and DINSHA DYNASTY TRUST, Plaintiffs, v. USA RARE EARTH, LLC, MORZEV PTY LTD., MORDECHAI GUTNICK ATF THE MORZEV TRUST, MORDECHAI GUTNICK, and PINI ALTHAUS, Defendants.

Court of Chancery of Delaware.

Date Decided: April 22, 2024.

Attorney(s) appearing for the Case

David A. Felice , BAILEY & GLASSER, LLP, Wilmington, Delaware; OF COUNSEL: Andrew St. Laurent , HARRIS ST. LAURENT & WECHSLER LLP, New York, New York, Attorneys for Plaintiffs Ramco Asset Management, LLC, US Trading Company Metals Re, LLC, and the DinSha Dynasty Trust.

John M. Seaman and E. Wade Houston , ABRAMS & BAYLISS LLP, Wilmington, Delaware; OF COUNSEL: Chelsea Corey , KING & SPALDING LLP, Charlotte, North Carolina, Attorneys for Defendant USA Rare Earth, LLC.

Carl D. Neff , PIERSON FERDINAND LLP, Wilmington, Delaware; OF COUNSEL: Aurora Cassirer and Christina H. Bost Seaton , FISHERBROYLES, LLP, New York, New York, Attorneys for Defendant Pini Althaus.

Karen E. Keller , Andrew E. Russell , and Nathan R. Hoeschen , SHAW KELLER LLP, Wilmington, Delaware; OF COUNSEL: Justin L. Ormand , ALLEN & OVERY, New York, New York; Patrick W. Pearsall , ALLEN & OVERY, Washington, D.C., Attorneys for Defendants Mordechai Gutnick ATF the Morzev Trust, Morzev Pty Ltd., and Mordechai Gutnick.

MEMORANDUM OPINION

The simplicity of the facts of this Memorandum Opinion is matched by its surprising legal complexity, arising in part from the large number of jurisdictions whose law does, or plausibly could, apply. Factually, Plaintiffs are former members of an Australian LLC, Morzev PTY Ltd., whose principals...

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