Of the. Court restores jobs to startup CEO, CTO after purge

By Leslie A. Pappas (May 27, 2022, 10:26 p.m. EDT) — A Delaware Court of Chancery judge on Friday ordered shareholders of startup Parity Technologies Inc. to reinstate the chief executive and chief technology officers in company duel after they both pushed each other in a leadership shakeup earlier this month.

Vice Chancellor Paul A. Fioravanti Jr. said Parity CEO Elizabeth O’Sullivan and Chief Technology Officer Jiahao Chen should both return to work pending resolution of a lawsuit filed by O’Sullivan against Chen and several other company shareholders in the Delaware Court of Chancery on Tuesday evening. .

“No action will be taken to amend the articles of association, change the board of directors or the management of the company…

Stay one step ahead

In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.

  • Access to case data in articles (numbers, filings, courts, nature of lawsuits, etc.)
  • Access to attached documents such as briefs, motions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and more!

TRY LAW360 FREE FOR SEVEN DAYS

Comments are closed.