Network Biz Investor Challenges Board Removals In Chancery
Law 360
MARCH 6, 2024
An early preferred stockholder of PacketFabric sued the network-as-a-service provider in Delaware's Court of Chancery on Wednesday, requesting an order invalidating what it calls a conflicted board cramdown that converted the investor's preferred shares to common stocks and axed its two seats on the company's board.
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