Counsel for California-based Mindbody, a provider of cloud-based business management software, argued before the Delaware Supreme Court that a 2023 decision in shareholder plaintiffs’ favor oversteps how critical the Court of Chancery can be of a sale process.
Andrew Rossman of Quinn Emanuel Urquhart & Sullivan told the court that decision didn’t show a direct link between actions by Mindbody’s founder and board members accepting a sale price offered by a bidder that founder favored.