Sadis regularly handles corporate governance disputes alleging breaches of fiduciary duties and litigating appraisal rights, both in Delaware Chancery Court and other venues.   Sadis has significant experience litigation Corporate Governance disputes as both Plaintiff’s and Defendant’s counsel.  Recent notable representations include:

  • Representing investment adviser in appraisal rights action seeking fair value of large stake in multi-billion dollar Fintech firm that merged into publicly-traded company. Manichaean Capital, LLC v. SourceHOV Holdings, Inc., 2017-0673-JRS

  • Representing large investment adviser in litigation alleging breach of Merger Agreement Earnout provision.

  • Successfully represented merger arbitrage hedge fund fiduciary duty action that recovered 195% above merger price for cashed-out stockholders. Obtained a total class settlement fund above $10.7 million. In re Orchard Enterps. Inc. S’holder Litig., 88 A.3d 1 (Del. Ch. 2014).

  • Successfully represented prominent activist investor in short-slate proxy contest that resulted in favorable settlement that installed activist’s nominee on board of directors of NYSE-listed Company and paid for activist’s legal fees.

  • Successfully represented appraisal arbitrage hedge fund in appraisal action resulting in judgment of 128% above merger price, plus statutory interest. See 2012 WL 2923305 (Del. Ch. July 18, 2012, aff’d Mar. 28, 2013).

  • Obtained dismissal of all claims in lawsuit seeking declaratory judgment of 49% interest in broker-dealer in New York County Commercial Division.

  • Represented and advised clients, including SpringOwl Asset Management, Bulldog Investors and affiliate Full Value Partners, on various matters involving proxy disputes and related shareholder activism issues.


Practice Contacts

 

LITIGATION, DISPUTES AND INVESTIGATION

SECURITIES AND FINANCIAL SERVICES LITIGATION

  • Investment Manager/Investor Disputes

  • Hedge Fund and Private Equity Fund Fraud

  • Representation of Directors, Liquidators, and Receivers

  • Compensation Disputes

  • Non-Compete Litigation

SECURITY ENFORCEMENT AND INVESTIGATIONS

BUSINESS DIVORCE AND PARTNERSHIP DISPUTES

CORPORATE GOVERNANCE AND APPRAISAL RIGHTS

CUSTOMER SECURITIES ARBITRATION

  • Suitability

  • Unauthorized Trading

  • Churning

  • Fraud/Misrepresentation/Omission

  • Failure to Supervise

REAL ESTATE LITIGATION

  • Partnership Disputes

  • Brokerage Fee Disputes

  • Foreclosure

  • Title and Enforcement Disputes

CROSS BORDER INSOLVENCY

  • Representation of Liquidators and Receivers

  • Representation of Directors

  • Clawback and Fraudulent Conveyance Actions

  • Chapter 15 Proceedings