Lip balm maker EOS’s top executive breached an ownership agreement to an ex-manager, a Delaware judge said Friday, requiring the majority owner to pay damages the manager would have received had that contract been honored at the time.
CEO Jonathan Teller breached the company’s 2016 ownership agreement and his fiduciary duties, Vice Chancellor Kathaleen St. Jude McCormick said in her post-trial opinion, adding that Ex-CEO Sanjiv Mehra is entitled to damages and pre-judgment interest.
The ruling is the latest in the bifurcated trial after McCormick first ruled in 2021 that Teller’s choice to dissolve the entity EOS Investor Holding Co. ...
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