Bumble Inc.'s board will argue this week that the Delaware Chancery Court should dismiss claims of insider trading leveled at the dating app’s founder and her backers at Blackstone Inc.
Here’s what else is happening in Chancery Court this week:
Monday: In re Weber Inc. S’holder Litig., Del. Ch., No. 2023-0993, settlement hearing 6/30/25.
At issue: Whether Chancellor Kathaleen St. Jude McCormick will give final approval to a proposal for Weber Inc. and billionaire Byron Trott to pay $19.25 million to end an investor class action over the grill maker’s $2.3 billion take-private sale. Attorneys for two investors who jumped to file a lawsuit challenging Weber’s sale to Trott also seek a $3.8 million fee award and reimbursement for nearly $100,000 in out-of-pocket expenses.
Court action: A settlement hearing will be held in Wilmington, Del.
Monday: Hearthstone Invs. Ltd. v. PharmaJet, Inc., Del. Ch., No. 2025-0380, hearing 6/30/25.
At issue: Hearthstone Investments Ltd. sued PharmaJet Inc., its co-founder, and its directors in April, alleging a scheme to sideline the medical technology company’s scientific advisers and block its largest investor’s attempts to buy more stock. Hearthstone seeks summary judgment to enforce what it says are its contractual rights to acquire more shares. PharmaJet, co-founder Heather Callender-Potters, and other defendants dispute Hearthstone’s characterization of the sales process, which has been paused due to the pending litigation.
Court action: A hearing on cross-motions for summary judgment will be held in Wilmington, Del.
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Tuesday: Salazar v. Quagliano, Del. Ch., No. 2024-1004, hearing 7/1/25
At issue: Solera National Bancorp. Inc. seeks to dismiss investor litigation alleging its controlling stockholder, Michael Quagliano, diverted company resources to buy a fleet of private jets for his personal use. The lawsuit was filed in September following a Chancery Court ruling that ordered Solera to release internal records about the aircraft and their use.
Court action: Oral arguments will be held in Wilmington, Del.
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Wednesday: In re Bumble, Inc. S’holder Derivative Litig., Del. Ch., No. 2023-0130, hearing 7/2/25.
At issue: Vice Chancellor J. Travis Laster previously ordered Bumble founder Whitney Wolfe Herd and Blackstone to face investor claims of insider trading. Now he’ll consider a motion to end the litigation from the Bumble board’s special litigation committee, which says its own investigation contradicts the investors’ claims that Blackstone and Bumble directors breached their fiduciary duties and were unjustly enriched in the disputed transaction. The investors say the committee’s investigation falls short of required standards and its three members lack independence.
Court action: Oral arguments will be heard in Wilmington, Del.
Bumble, Blackstone Must Face Insider Trading Claims in Delaware
Wednesday: Handelsbanken Fonder AB v. Endeavor Grp. Holdings, Inc., Del. Ch., No. 2024-0391, hearing 7/2/25.
At issue: Competing groups of hedge funds are fighting to lead a consolidated appraisal case challenging Silver Lake’s $13 billion buyout of Endeavor Group Holdings Inc. Vice Chancellor Lori W. Will plans to resolve the leadership fight before weighing how to coordinate the appraisal case with two related lawsuits alleging Silver Lake and billionaire Hollywood mogul
Court action: A hearing on the leadership motions will be held via teleconference.
Endeavor Buyout Arbitrage Fuels Court Fight Over Lawyer Fees
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