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BUDDENHAGEN v. CLIFFORD

C.A. No. 2019-0258-NAC.

PAUL S. BUDDENHAGEN, Individually and on Behalf of All Others Similarly Situated, and Derivatively on Behalf of MARITIME EXPLORATIONS, INC., Plaintiff, v. BARRY L. CLIFFORD and THE ESTATE OF ROBERT T. LAZIER, Defendants, and MARITIME EXPLORATIONS, INC., a Delaware corporation, Nominal Defendant.

Court of Chancery of Delaware.

Decided: May 10, 2024.

Attorney(s) appearing for the Case

Richard L. Renck , Tracey E. Timlin , Michael B. Gonen , DUANE MORRIS LLP, Wilmington, Delaware; Counsel for Plaintiff Paul S. Buddenhagen.

Samuel T. Hirzel, II , Gillian L. Andrews , HEYMAN ENERIO GATTUSO & HIRZEL LLP, Wilmington, Delaware; Counsel for Defendants Barry L. Clifford and The Estate of Robert T. Lazier.

Peter B. Ladig , BAYARD, P.A., Wilmington, Delaware; Counsel for Nominal Defendant Maritime Explorations, Inc.,

POST-TRIAL MEMORANDUM OPINION

The plaintiff is a sophisticated business consultant, the former director of a publicly traded corporation, and a stockholder of Maritime Explorations, Inc. ("MEI"). MEI holds significant rights in the only identified pirate shipwreck ever discovered—the Whydah Galley—and has...

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