Agree with a lot of what you said, but let's run w
Post# of 153974
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Posted On: 09/20/2021 2:13:17 PM
Agree with a lot of what you said, but let's run with the potential appeal issue a little bit more:
If the Rosenbaum/Patterson Group's request for an injunction is denied, are they not SOL? Okay, they appeal, but what does that give them, the status quo is that they are not on the ballot. Elections held without them. Injunction denied so nothing should prevent the company holding the vote without the R/P Group on the ballot. The R/P Group would have to obtain some kind of injunction or TRO (temporary restraining order) from either the court that denied the injunction (good luck with that) or from the Court of Appeal.
Assuming no injunction nor TRO issued by either the lower court or the Court of Appeal, what are the possibilities in the Court of Appeal? Court of Appeal might dismiss the appeal as moot as the election already held. Or, it might rule in favor of the company, in which case the election that was already held stands. Or, it rules in favor of the R/P Group, and remanded to the lower court, who then has to determine what to do now that the election already held. Or, it might rule that it has to go back to lower court for further hearings. But, if it is remanded, could the lower court now merely dismiss the case as moot? Or, order a revote? This is a mess if it goes this far, so I doubt the Court of Appeal would entertain this, and might do what is easiest, dismiss the appeal as moot. But, I am just guessing and speculating here. All of these are possible IMHO.
And, not sure how long appeals take in Delaware, but here they take a year or two or three. You can't hold off an election like this. I know Delaware is known to favor corporations, so maybe there is a procedure to expedite such an appeal, but outside my area of law.
So, isn't the R/P Group SOL if they loss the October 6, 2021 motion for an injunction? Any possibilities I missed? I don't know nor do I predict what will happen here.
But, from a business standpoint it certainly seems that there is an argument for the company to go forward with the hearing/trial on October 6, 2021, to see what happens even though there might be an argument against it, too.
Quote:
Keep in mind, however, that denial of the Rosenbaum injunction motion would be appealable, and that would likely delay the Oct 28 BOD election.
If the Rosenbaum/Patterson Group's request for an injunction is denied, are they not SOL? Okay, they appeal, but what does that give them, the status quo is that they are not on the ballot. Elections held without them. Injunction denied so nothing should prevent the company holding the vote without the R/P Group on the ballot. The R/P Group would have to obtain some kind of injunction or TRO (temporary restraining order) from either the court that denied the injunction (good luck with that) or from the Court of Appeal.
Assuming no injunction nor TRO issued by either the lower court or the Court of Appeal, what are the possibilities in the Court of Appeal? Court of Appeal might dismiss the appeal as moot as the election already held. Or, it might rule in favor of the company, in which case the election that was already held stands. Or, it rules in favor of the R/P Group, and remanded to the lower court, who then has to determine what to do now that the election already held. Or, it might rule that it has to go back to lower court for further hearings. But, if it is remanded, could the lower court now merely dismiss the case as moot? Or, order a revote? This is a mess if it goes this far, so I doubt the Court of Appeal would entertain this, and might do what is easiest, dismiss the appeal as moot. But, I am just guessing and speculating here. All of these are possible IMHO.
And, not sure how long appeals take in Delaware, but here they take a year or two or three. You can't hold off an election like this. I know Delaware is known to favor corporations, so maybe there is a procedure to expedite such an appeal, but outside my area of law.
So, isn't the R/P Group SOL if they loss the October 6, 2021 motion for an injunction? Any possibilities I missed? I don't know nor do I predict what will happen here.
But, from a business standpoint it certainly seems that there is an argument for the company to go forward with the hearing/trial on October 6, 2021, to see what happens even though there might be an argument against it, too.
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