Why North Carolina businesses incorporated in Delaware should consider Mauney PLLC.
Lots North Carolina businesses are incorporated in Delaware. As a result, many North Carolina-based business disputes must be litigated in Delaware. But that doesn’t mean that your North Carolina business should only look to Delaware for a litigation attorney. There are several reasons why you should retain Charlotte attorney Gary Mauney and Mauney PLLC to help with you with a lawsuit that might end up in Delaware.
Gary Mauney frequently represents clients with Delaware-related issues, such as contested mergers or appraisal rights. You might not know it, but Gary Mauney also obtained one of the most well-known victories of the last decade in the Delaware Chancery Court.
Carsanaro v. Bloodhound.
In Carsanaro v. Bloodhound, a Delaware Chancery Court case, Charlotte attorney Gary Mauney represented the former chief executive officer (and other executives) of a software start-up in a case that challenged the terms of that company’s merger with another company. In Bloodhound, the preferred shareholders took nearly all of the proceeds from the $87 million merger, leaving virtually nothing for the common shareholders (who were Bloodhound's founders). The case centered on the duties owed by a board of directors to its common shareholders versus those of the preferred shareholders. This case settled after Gary Mauney argued against and later prevailed on a motion to dismiss that had been filed by the corporate defendants in the Delaware Chancery Court.
The Delaware Chancery Court rejected the corporate defendants' attempt to get the case dismissed, and issued an opinion favorable to the plaintiffs. Gary Mauney’s victory on behalf of his client-plaintiffs was analyzed at length in the "Dealbook" section of the New York Times, and the case was also featured in an "Inc." magazine article devoted to the issues in the case.
What makes the Delaware Chancery Court special?
Delaware is the leading state of incorporation in the United States, with approximately 50% of publicly-traded companies and 66% of Fortune 500 companies incorporated in Delaware. As a result, Delaware’s state courts are a leading venue for corporate and commercial litigation. The Delaware Court of Chancery is renowned for establishing ground-breaking precedent in corporate law that is frequently adopted by courts in other jurisdictions. Over 1,000 civil actions are filed in the Court of Chancery every year. These cases include challenges to mergers, fiduciary duty claims, books and records cases, board composition disputes and appraisal actions. The number of appraisal actions filed in Delaware has doubled over the last decade. The Delaware Superior Court, specifically its Complex Commercial Litigation Division (CCLD), is frequently the forum for complicated contract disputes, particularly earn-outs cases arising out of corporate sale agreements. The CCLD is available for cases with $1 million or more in dispute and is designed to ensure that such cases are decided efficiently and promptly. All appeals from Delaware’s Chancery Court and Superior Court go directly to the Delaware Supreme Court, which resolves appeals, on average, just 33.3 days from the date of submission.
Experience matters in complex corporate litigation.
Gary Mauney has it.
Litigation attorney Gary Mauney has the experience you need to prosecute a complex corporate and commercial action in Delaware. Mauney PLLC is available to appear before the Delaware courts on a pro has vice basis (i.e., we employ local counsel and seek pro hac vice admission to make such appearances).
Gary Mauney and Mauney PLLC’s experience includes the following types of cases:
Fiduciary Duty – we have represented officers, directors, and minority shareholders bringing claims of breach of fiduciary duty, including cases under Delaware’s “entire fairness” standard.
Books and Records Demands – we have assisted individuals and companies in making shareholder and member demands to inspect the books and records of the company under 8 Del. C. § 220.
Appraisal – we have represented shareholders in appraisal actions under 8 Del. C. § 262, under which shareholders “cashed out” in a merger may seek to have the “fair value” of company shares determined by the Chancery Court.
Closely Held Company Disputes – we have represented shareholders and members of closely-held companies in disputes over contract rights, shareholder and member rights, and similar disputes.
Earn-Outs – we have represented sellers seeking to recover on earn-outs withheld by purchasers.
Because Mauney PLLC accepts clients on a contingent fee basis or on a hybrid-fee basis, clients seeking representation in a matter involving Delaware law need not expect a multi-million-dollar bill for attorneys' fees at the conclusion of their litigation. In many situations, the Firm's clients would not be able to afford legal representation in the absence of a contingent fee arrangement. Moreover, Mauney PLLC is versed in all aspects of the litigation process, including trial, and we look to help clients resolve disputes prior to litigation. If litigation is commenced, we continue to explore ways to resolve pending litigation prior to incurring the risks of protracted litigation.
Contact Mauney PLLC to explore your options.
If you or your company has a Delaware-related conflict – or if you have been dealt with unfairly in a corporate dispute - contact Mauney PLLC for a confidential, privileged, and no-charge consultation. Email us at email@example.com or call us at 704/945-7185. We will evaluate your problem, and give you our best assessment of what you should do next. And if litigation is the answer, we will bring to bear the experience and expertise you will need to protect your rights.