Citizens for a Pro-Business Delaware has filed a for reargument on the Supreme Court of Delaware’s decision to deny their amicus brief concerning the potential sale of New York City-based TransPerfect.
“We are hopeful that the Delaware Supreme Court will accept our amicus brief and consider the valuable perspective of Citizens for a Pro-Business Delaware and TransPerfect’s employees on the sale of their company, which was ordered by the Court of Chancery,” said Chris Coffey, campaign manager for CPBD. “At the end of the day, our hope is that the legislature will allow the voices of TransPerfect employees to be heard. We plan to make sure they are heard – on TV, radio, and in newspapers – as well as on the steps of the capital. As we continue our efforts to keep this successful, profitable company intact for the sake of TransPerfect employees and their families – we want to ensure our members get a fair say in this case. That’s exactly what this amicus brief would do.”
Last week, Citizens for a Pro-Business Delaware officially submitted a motion to file an amicus brief, along with the amicus brief itself, with the Supreme Court of Delaware requesting that the Supreme Court order the Court of Chancery to appoint a custodian to serve as a provisional director of TransPerfect.
The motion for reargument submitted Friday, October 21 contests the court for their decision to reject the amicus brief, arguing that the court misstated the law and that the opposition misstated facts. The motion also invokes free speech rights, with a defense of citizens’ rights “to publicly disagree with a court decision.”
The amicus brief comes after the Chancery Court ordered an appointed custodian to sell TransPerfect amid an internal dispute among company owners. Instead of selling the company, the Citizens for a Pro-Business Delaware requests that the Court of the Chancery appoint a custodian to act as a provisional director until the dispute is resolved.
In an interview last week, Coffey said the group would like to see Delaware law changed to allow a “cooling off period” in cases where companies are put on the block, due to reasons other than financial problems.
Coffey says TransPerfect is a highly profitable company and that any forced sale at a premium price will lead to employees losing their jobs
Citizens for a Pro-Business Delaware is a group made up of more than 2,200 members including employees of the global translation services company TransPerfect, as well as Delaware residents, business executives and others, the group stated.
They formed in April of 2016 to focus on raising awareness with Delaware residents, elected officials, and other stakeholders about the issue.
To read the motion for reargument click here.
