Cannabis Gear Firm Founders’ Remedy Row Hits Top Delaware Court

The Delaware Supreme Court pondered Wednesday whether a trial judge failed to properly evaluate potential damages when he ordered rescission of a stock conversion at a struggling cannabis accessories company.

Two co-founders of Session Corp. got two million shares of common stock returned to them by the Delaware Chancery Court’s post-trial opinion. But what each wanted, and should’ve received, was $2.4 million in damages, their attorney, Thad Bracegirdle of Bayard PA, told the high court.

Vice Chancellor J. Travis Laster erred in deeming the co-founders’ damages estimates as “too speculative” and in ordering rescission of the stock transaction without ...