Shirley Shawe – one of three TransPerfect shareholders, and the mother of the company’s Co-Founder Phil Shawe – released a video that highlights what she says are inconsistent statements of Kramer Levin attorney Philip Kaufman. Kaufman serves as Elizabeth Elting’s lead lawyer in her attempts to force a sale of the company.
Shirley Shawe’s attorney Alan Dershowitz, said, “I was not impressed by the actions of the Delaware court system when it came to resolving this issue” and issues like these opposing comments reinforce that view.
According to a release, the video focuses on three instances in which Kaufman’s statements outside the courtroom directly conflict with what he said during oral arguments on the appeal of the unprecedented decision of the Chancery Court last month, leading to the first ever Delaware Court-ordered sale of a successful company.
The release notes that Chancellor Andre Bouchard suggested as much when he stated, “Ms. Elting, you’d be naive to think that the maximization of your 50 percent interest is this Court’s driving concern. It is not. This is a court of equity, but you should not expect to get a windfall from this Court that you failed to obtain for yourself when you structured your ownership in this enterprise.”
However, Delaware Supreme Court affirmed Bouchard’s decision, and in her dissent, Justice Karen L. Valihura said that absent stockholder consent, this is too drastic a measure and that the court should consider the implementation of remedies on an incremental basis, the release stated.
