KEYNETICS INC. v. KEYNETICS SHAREHOLDER TRUST

C.A. No. 2022-0006-JTL.

KEYNETICS INC., Plaintiff, v. KEYNETICS SHAREHOLDER TRUST, Defendant. KEYNETICS SHAREHOLDER TRUST, Counterclaim Plaintiff, v. KEYNETICS INC., Counterclaim Defendant.

Court of Chancery of Delaware.

Decided: January 27, 2025.


Attorney(s) appearing for the Case

Susan W. Waesco, Jacob Perrone, MORRIS, NICHOLS, ARSHT & TUNNELL LLP, Wilmington, Delaware; Catherine D. Kevane, Marie C. Bafus, FENWICK & WEST LLP, California; Attorneys for Plaintiff.

David L. Finger, FINGER & SLANINA, LLC, Wilmington, Delaware; Attorney for Defendant and Non-Party Gary Lutin.


OPINION IMPOSING SANCTIONS FOR CONTEMPT

A Delaware statutory trust holds shares in an S corporation. The individuals who contributed the shares to the trust hold beneficial interests in the trust. The company's certificate of incorporation imposes transfer restrictions on its shares, and the parties stipulated to an order...

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