Wilmington, Delaware Law Firm, Attorneys: Ross Aronstam & Moritz LLP

Our firm, together with Hogan Lovells US LLP, represented private equity investor Palisades Growth Capital in a highly expedited litigation to invalidate deceptive Board actions taken by a director and former CEO at Palisades’ portfolio company, QLess, and to determine control of QLess following the deception. On March 26, 2020, the Court of Chancery issued a post-trial decision invalidating the challenged Board actions as inequitable under Schnell and returning control of QLess to its state prior to the actions. That ruling was subsequently affirmed by the Delaware Supreme Court on January 15, 2021.