Two Percona LLC shareholders didn’t adequately allege a pair of company directors breached contractual agreements and their fiduciary duties by tinkering with distributions, financial statements, and tax documents, the Delaware Court of Chancery ruled.
Most of the claims are time-barred as well, Vice Chancellor Joseph R. Slights III said Wednesday for the court.
Former Chief Financial Officer and interim controller David Fouts and another member of the database software company, Terrance L. Erisman, sued board members and managers Peter Zaitsev and Thomas Basil.
They said Zaitsev and Basil breached a company agreement by failing to make distributions in order to ...
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