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.
Litigation, Disputes and Investigations
SECURITIES AND FINANCIAL SERVICES LITIGATION
Investment Manager/Investor Disputes
Hedge Fund and Private Equity Fund Fraud
Representation of Directors, Liquidators, and Receivers
SECURITY ENFORCEMENT AND INVESTIGATIONS
Defense of SEC and FINRA Enforcement Proceedings
BUSINESS DIVORCE AND PARTNERSHIP DISPUTES
Oppression by Majority Member/Partner
CORPORATE GOVERNANCE AND APPRAISAL RIGHTS
Fiduciary Duty Disputes
Counsel on Delaware and NY Law
CUSTOMER SECURITIES ARBITRATION
Failure to Supervise
REAL ESTATE LITIGATION
Brokerage Fee Disputes
Title and Enforcement Disputes
CROSS BORDER INSOLVENCY
Representation of Liquidators and Receivers
Representation of Directors
Clawback and Fraudulent Conveyance Actions
Chapter 15 Proceedings