Kohlberg Ventures’ Victory in Akademos Buyout Likely to Stand

Kohlberg Ventures LLC’s victory over a challenge from the founder of Akademos Inc. to the education technology company’s buyout appeared safe Wednesday at the Delaware Supreme Court.

The full five-member panel appeared skeptical of arguments by an attorney for Brian Jacobs, who seeks to reverse a post-trial opinion from the Delaware Chancery Court that dismissed his claims that the transaction and prior financing rounds shortchanged common stockholders.

“I struggle to understand what you want us to do with this claim on appeal,” Justice Abigail M. LeGrow told Evan Bianchi of Spiro Harrison & Nelson LLC, representing Jacobs and other investors. ...