PECO Logistics, LLC v. Walnut Investment Partners, L.P., C.A. No. 9978-CB (Del. Ch. 2015)
Ross Aronstam & Moritz represented PECO Logistics, LLC in a dispute with preferred equity holders regarding a put right in PECO Logistics' LLC agreement that provided for the preferred units to be acquired at a price set by a nationally recognized valuation firm based on a contractually specified formula. When the preferred equity holders exercised the put right and then refused to transfer their units at the price determined by the valuation firm, PECO Logistics brought suit seeking a declaratory judgment that the preferred investors were bound by the valuation price, among other things. The Court of Chancery granted PECO Logistics' motion for judgment on the pleadings and entered judgment for PECO Logistics on all counts.