A custodian working on the sale of TransPerfect is seeking information on the money behind, the group, Citizens for a Pro-Business Delaware.
Law360 reported the demand came as Citizens for a Pro-Business Delaware sought information on spending by the custodian. Citizens claimed such scrutiny would violate the rights of employees.
Chris Coffey, campaign manager for Citizens for a Pro-Business Delaware issued the following statement: “Our members and their families already live in fear of losing their jobs. We will not put them at greater risk. But we do hope that news organizations and elected officials can pick up where we left off and ask the custodian where the millions are being spent, and how he decided with no oversight to pick the companies he picked to shower with millions of dollars. Transparency is the hallmark of good democracy. We do not have that here, and we hope to change that.”
Relations have been frosty between Citizens and the custodian, with the group claiming that free speech rights of employees have been violated.
In a surprise move, Chancellor Andre Bouchard ordered a mediation effort between owners Phile Shawe and Elizabeth Elting, both of whom control about half of the business service’s shares.
In the meantime, Citizens is pushing for legislation in Delaware that would impose a three-year cooling off period regarding the sale.
Employees of TransPerfect, which is based in New York City, are said to be concerned about job losses if the company is sold at a premium price.