Shawe files suit in federal court as flurry of litigation continues in TransPerfect sale case

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Shawe

TransPerfect co-CEO Philip Shawe has filed suit in U.S. District Court in New York State.

Shawe is seeking relief from the actions of TransPerfect custodian Robert Pincus.

Pincus was appointed by Delaware Chancery Court to oversee the sale of TransPerfect after Shawe and co-founder Elizabeth Elting ended up in a deadlock over control of the company.

Shawe and his mother Shirley own 50 percent of TransPerfect, while Elting owns the remainder. Both remain co-CEOs of the company.

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Pincus and Shawe have tangled over a number of issues. Shawe claims that Chancery Court has no authority to sell a profitable company. TransPerfect is a New York-based translation and business services company.

In the suit, Shawe claimed Pincus has violated his constitutional rights in opposing the sale.

TransPerfect has no operations in Delaware, but is in incorporated in the state.

The planned sale has produced a flurry of litigation, with Eliing supporting the sale and Shawe fighting the process.

Another group, Citizens for a Pro-Business Delaware, has pressed for legislation that would order a three-year cooling off period on a sale. The group says it is comprised of TransPerfect employees and those want a change in the law.

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