Stradling Secures Victory in Delaware Court of Chancery for Keypoint Intelligence

Stradling represents Keypoint Intelligence, LLC, a portfolio company of a California-based private equity firm, in a dispute between Keypoint and its former CEO.  The former CEO as a profits interest holder commenced an action in the Delaware Court of Chancery, seeking an inspection of company records for among other things, purported self-interested transactions, and indemnity. Stradling achieved dismissal of the indemnity claim on a successful motion to dismiss. Stradling prevailed at trial with the Court concluding that the CEO lacked standing under the applicable Delaware law.  The case is currently under exceptions review in the Court of Chancery.