The Delaware Court of Chancery, in Braga Investment & Advisory, LLC v. Yenni Income Opportunities Fund I, LP, C.A. No. 2017-0393-AGB, memo. op. (Del. Ch. June 8, 2020), construed investor’s entitlement to “Board packages” in connection with its board observer right to entitle investor only to materials that management determined in good faith were required by the board in connection with meetings.
NEW: K&L Gates discusses the decision in Failed Breach of Contract Claims Underscore Chancery Court’s Focus on Contractual Plain Language Over Outside Evidence.
Morris James discusses the decision in In Post-Trial Opinion, Chancery Finds for Defendant, Rejecting Claims Alleging Breach of Purchase Agreement and Right to “Board Packages”.