Two selection committee manager reading a resume during a job interview, Employer interviewing to ask young female job seeker for recruitment talking in office. Metals Co. Directors' Dueling Efforts to Kick Each Other Off the Board Results in Shareholder Action
This suit was surfaced by Law.com Radar. Read the complaint here.
September 11, 2023 at 11:06 AM
2 minute read
Four board directors of fabricated metals company NeoCycl Holdings were hit with a shareholder lawsuit on Sept. 8 in Delaware Court of Chancery. The suit was brought by Wiggin & Dana and Ashby & Geddes on behalf of majority shareholder CalPac Resources, which designated two of the six members of NeoCycl's board. According to the complaint, a confrontation over management issues led to a board dispute, with each side purporting to vote the other directors off the board. The suit seeks a declaration that as majority shareholder, the plaintiff validly removed four of the six board directors. Counsel have not yet appeared for the defendants. The case is 2023-0916-, CalPac Resources Ltd. v. Hubert et al.
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