A Jenzabar Inc. founder lost her bid to take control of the educational software company based on the majority stake she says she’ll hold when she finishes divorcing her co-founder.
A Delaware judge granted summary judgment Monday for Robert Maginn Jr., saying Ling Chai Maginn lacked the authority to dissolve a one-member special board committee set up to manage business complications stemming from the breakup of their marriage.
The couple control about 90% of Jenzabar’s shares, mostly through jointly owned investment vehicles that are being divided in the matrimonial case, which Chai Maginn brought in Massachusetts family court in 2019. ...
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