Kathaleen McCormick, Delaware Court of Chancery vice chancellor. Courtesy photo Quantum Attorneys: Former Shareholder Too Late With No Standing in Case Over Doctored Books
An activist investor of the San Jose-based data storage company argued that its right to file a lawsuit over details surrounding the agreement they made didn't go away when the stock was sold.
November 01, 2021 at 04:58 PM
4 minute read
The original version of this story was published on Delaware Business Court Insider
It's been almost six years since San Jose, California-based Quantum Corp.'s reported financial information avoided triggering a deal with a shareholder and two directors since the company reached a settlement in a related federal securities case.
That's part of the main reason, attorneys for Quantum and its former CEO and chairman argued at a motion to dismiss hearing Monday before Chancellor Kathaleen McCormick, activist investor Starboard can't be allowed to bring up the same information in the Court of Chancery now.
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