The Delaware Court of Chancery, in In re Hawk Systems, Inc., C.A. No. 2018-0288-JRS (Del. Ch. Sept. 4, 2019), found that a purported controlling stockholder of a cancelled corporation who claimed to have been awarded stock by court orders in other lawsuits but whose purported ownership was not consistent with the company’s stock ledger failed to demonstrate controlling ownership and lacked authority to revive the company.
K&L Gates discusses the decision in Delaware Court of Chancery Denies Plaintiff’s Request for Declaration of Status as Majority Stockholder, Sole Director, and Chief Executive Officer.