SV Investment Partners, LLC, et al. v. Thoughtworks, Inc.

SVIP brought an action in the Court of Chancery against ThoughtWorks for a declaratory judgment of the meaning of the phrase "funds legally available" as it related to ThoughtWorks' obligation under its Amended Charter to redeem Series A Preferred Stock. The court held that because the record supported the Court of Chancery's conclusion that SVIP did not show that ThoughtWorks had "funds legally available," even under its own proposed definition of that phrase, the court affirmed the judgment. View "SV Investment Partners, LLC, et al. v. Thoughtworks, Inc." on Justia Law