An ex-manager of lip balm maker EOS may advance claims that another executive wrongfully seized control of the business after dissolving its parent company over a leadership deadlock, a Delaware judge ruled Wednesday.
Chancellor Kathaleen St. Jude McCormick ruled in 2021 that the dissolution of EOS Investor Holding Company LLC was valid. But that ruling didn’t address remedies for the remaining claims of a breach of fiduciary duty, she said in a Feb. 28 opinion denying a motion to dismiss.
The 2019 lawsuit filed by Sanjiv Mehra alleged Jonathan Teller sought to “manufacture” a deadlock. Teller held a greater equity ...
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