A dispute over earnout payments and the scheduled release of the sequel to the Subnautica video game goes to trial this week in the Delaware Chancery Court.
Here are the highlights from the calendars for the Chancery Court and the Delaware Supreme Court:
Monday: Fortis Adv. LLC v. Krafton, Inc., Del. Ch., No. 2025-0805, trial 11/17/25.
At issue: Vice Chancellor Lori Will presides over a trial concerning claims that a Korean video game studio linked to Chinese tech giant Tencent sabotaged the 2025 release of the blockbuster Subnautica franchise’s next installment. Former shareholders of Unknown Worlds Entertainment claim Krafton Inc. improperly fired key employees and delayed the game’s release to 2026 to avoid paying earnouts up to $250 million.
Court action: A three-day trial begins Monday in Wilmington, Del.
Subnautica 2 Developers Sue Tencent-Linked Studio Over Delay (1)
Wednesday: Buddenhagen v. Clifford, Del., No. 228,2025, oral arguments 11/19/25.
At issue: A shareholder who successfully challenged the merger of entities founded to recover and commercialize treasure from a pirate shipwreck seeks further remedies from the Delaware Supreme Court. Paul Buddenhagen says the post-trial opinion unwinding the 2018 merger still leaves company operations under the control of the “disloyal” majority shareholder and founding explorer, Barry Clifford. Buddenhagen now challenges the validity of certain stock issuances that gave Clifford majority ownership and seeks a declaration that certain contracts that benefited Clifford have expired. In 1982, Clifford discovered the wreck of the Whydah Gally, a ship that transported enslaved people and was captured by pirates that sank in 1717 off Massachusetts.
Court action: The high court hears oral arguments in Dover, Del.
Unfair Shipwreck Merger Is Unwound by Chancery Court
Thursday: RTS Holding, Inc. v. Cano, Del. Ch., No. 2025-0059, hearing 11/20/25.
At issue: K1 Investment Management LLC seeks to exit claims that it attempted to sabotage a technology company specializing in waste disposal by allegedly trying to spoil a lending agreement to gain control. RTS Holding Inc. says K1 pressed it to accept “a predatory offer” or the waste disposal and recycling company would have defaulted on a $45 million loan.
Court action: Oral arguments will be held in Georgetown, Del.
Waste-Focused Tech Company Says Investor Worked to Undermine It
Thursday: In re Nikola Corp. Deriv. Litig., Del. Ch., No. 2022-0023, settlement hearing 11/20/25.
At issue: Chancellor Kathaleen St. Jude McCormick must decide whether to give final approval to a $6.3 million settlement proposed to resolve remaining claims in fraud litigation against the disgraced founder and other corporate leaders of the electric vehicle startup Nikola Corp., which filed for Chapter 11 in February. The proposal includes a $1.26 million legal fee award for the attorneys representing shareholders of VectoIQ Acquisition Corp., the SPAC that merged with Nikola. McCormick narrowed the challenge to the blank-check merger in an April 2024 ruling.
Court action: A settlement hearing will be held in Wilmington, Del.
Nikola Corp. Fraud Case Advances as Judge Cuts Back Court Claims
—With assistance from Bloomberg Law Automation.
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