Publication Date: 2023-11-06
Practice Area: Contractual Disputes
Industry: Mining and Resources
Court: Court of Chancery
Judge: Vice Chancellor Glasscock
Attorneys: For plaintiff: David A. Felice, Bailey & Glasser, LLP, Wilmington, DE; Andrew St. Laurent, Harris St. Laurent & Wechsler LLP, New York, NY for plaintiffs.
for defendant: John M. Seaman, E. Wade Houston, Abrams & Bayliss LLP, Wilmington, DE; Chelsea Corey, King & Spalding LLP, Charlotte, NC; Carl D. Neff, FisherBroyles, LLP, Wilmington, DE; Aurora Cassirer, Christina H. Bost Seaton, FisherBroyles, LLP, New York, NY; Karen E. Keller, Andrew E. Russell, Nathan R. Hoeschen, Shaw Keller LLP, Wilmington, DE; Justin L. Ormand, Allen & Overy, New York, NY; Patrick W. Pearsall, Allen & Overy, Washington, D.C. for defendants.
Case Number: 2022-0665-SG
Plaintiffs were former equity holders in an Australian rare-earth mining company, whose primary asset was interest in a mining project in West Texas. Defendants transferred the company's assets to a new Delaware entity. Plaintiffs' fourteen causes of action alleged that defendants promised that plaintiffs would each receive an equivalent amount of equity in the Delaware entity as each had previously held in the mining company, however, they alleged that the transactions had diminished their ownership interests. Defendants' motions to
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