The Nine Systems Corp. Shareholder Litigation: A Primer in Improper Corporate Governance

March 24, 2016E-Books

The long saga of what ultimately became known as the “Nine Systems Corp.” shareholder litigation has wound its way through the Delaware Chancery Court, where it began in 2008, to a conclusion in the Delaware Supreme Court on December 11, 2015. The path from corporate recapitalization in 2002 to the final order of the Delaware Supreme Court holding that the plaintiff shareholders of the entity originally known as “Streaming Media Corp.” were not entitled to any monetary damages notwithstanding what the court described as a “grossly unfair process” provides a wealth of guidance for attorneys advising early stage enterprises as to how to properly address corporate governance and shareholder communication issues.

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