This Week in Chancery Court: Boeing, More Legislative Debate

The Delaware House Judiciary Committee on Wednesday will take up the debate over a legislative overhaul that would shift power from smaller investors toward corporate insiders such as Elon Musk.

Here’s a look the Chancery Court calendar this week:

Thursday: Namdar v. Immutable Holdings Inc., Del. Ch., No. 2024-0535, oral arguments 3/20/25.

At issue: A cryptocurrency investor sued the owner of NFT.com in May 2024, alleging the serial entrepreneur duped him into helping launch the venture and then conspired to force him out. The investor, David Namdar, now faces counterclaims filed by by Jordan Fried and Immutable Holdings Inc., which owns the NFT.com web domain. Vice Chancellor J. Travis Laster will convene a hearing to consider motions to dismiss filed by both parties.

Court action: Oral arguments on the motions to dismiss will be heard in Wilmington, Del.

NFT.com Investor Sues ‘Blockchain Evangelist’ for Fraud, Threats

Thursday: In re The Boeing Co. Derivative Litig., Del. Ch., No. 2024-1210, oral arguments 3/20/25.

At issue: Vice Chancellor Morgan T. Zurn will decide which of two contenders should lead litigation over the fallout of safety problems plaguing Boeing Co.'s 737 Max and 787 aircraft. Three Delaware-based plaintiffs—the Construction and General Building Laborers’ Local Union No. 79 General Fund, the Central Laborers’ Pension Fund, and an individual investor—say their case against Boeing makes the strongest arguments. Public pension funds in Ohio and Oklahoma argue they bring more heft to the litigation.

Court action: Oral arguments on the motions for leadership will be heard in Wilmington, Del.

Boeing ‘Rotten Culture’ to Blame for 737 Max Woes, Suit Says (2)

Friday: In re XL Fleet (Pivotal) S’holder Litig., Del. Ch., No. 2021-0808, settlement hearing 3/21/25.

At issue: A 2021 lawsuit challenged the acquisition of XL Hybrids Inc. by Pivotal Investment Corporation II, a special purpose acquisition company. An investor in XL Fleet Corp., which specializes in converting commercial trucking fleets to hybrid power from gas, claims New York Islanders co-owner Jon Ledecky and other financiers who backed the deal ensured insiders got a windfall at the expense of public shareholders. Chancellor Kathaleen St. Jude McCormick will now consider whether a proposed $4.75 million settlement is sufficient to resolve the litigation. Attorneys for the plaintiffs also seek a fee award of nearly $824,000.

Court action: A settlement hearing will be held in Wilmington, Del.

Ledecky, SPAC Ex-Board Facing Investor Suit Over XL Fleet Merger