Citizens for a Pro-Business Delaware has submitted a white paper to the Delaware Bar Association calling for a law change that would stop Chancery Court’s order to sell translation company TransPerfect.
The paper was submitted to the Bar Association’s Section of Corporation Law and its Council. The group is comprised of TransPerfect employees upset about the order that came after the principals of the company could not agree on a sale. Both own a 50 percent stake, thereby creating an impasse.
Click here for past coverage of the TransPerfect case
“We are eager to have this important discussion with the Section of Corporation Law,” Chris Coffey said, campaign manager for Citizens for a Pro-Business Delaware. “We are continuing to have important discussions with elected officials and Delawareans across the state about the significance of this case for not only the thousands of TransPerfect employees who could lose their jobs, but also for all companies incorporated in Delaware and their employees who are left vulnerable with this dangerous precedent. We are confident we can, and will, find a solution in the weeks and months ahead,” Coffey said.
In addition to the white paper, Citizens for a Pro-Business Delaware’s campaign includes newspaper ads in local papers, canvassing local neighborhoods, lobbying elected officials, running radio ads and posting billboards.
The group had a booth at the Delaware State Fair in July and continues to have a presence at local events throughout the state.
Citizens for a Pro-Business Delaware, a group, made up of more than 2,200 members, including TransPerfect employees.
The group’s efforts have received a cool response from legislators and the legal community, although the effort has gained some support. TransPerfect is based in New York and has no physical presence in Delaware.
The group started off with a more strident tone to its efforts, warning legislators and the legal community about the implications of a forced sale.
For information on Citizens for a Pro-Business Delaware visit DelawareForBusiness.org.
