The Delaware Court of Chancery is frequently called on to resolve disputes between 50-50 owners of a business. In the latest iteration of such a dispute, Millien v. Popescu, C.A. 8670-VCN (Del Ch. Jan. 31, 2014), the court had to resolve whether two stockholders did in fact each own a 50 percent voting interest in the corporation. Resolution of this issue primarily depended upon interpretation of an email from 2009.
Petitioner Kevin Millien and respondent George Popescu were the directors of Boston Technologies Inc. (BT), a Delaware corporation with headquarters in Boston. In 2007, Popescu formed Boston Technologies LLC, the predecessor to BT, to hold intellectual property rights for brokerage software Popescu was developing. In April 2008, Boston Technologies was converted into BT.
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