Firm representing TransPerfect sale foes seeks to quash subpoenas seeking info

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Shawe
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The public relations firm representing  a group fighting an effort to sell TransPerfect has gone to court in an attempt to quash a subpoena aimed at finding information on the effort.

Custodian Robert Pincus has filed subpoenas in a New York involving Tusk Strategies and  Chris Coffey calling for disclosures involving a group known as Citizens for a Pro-Business Delaware.

Pincus was appointed by Delaware Chancery Court to launch the process of selling the company as a way to break a deadlock between co-founders Elizabeth Elting and Philip Shawe who each account for about half of all shares. Shawe’s mother Shirley has a one percent share of the company.

Shawe and Elting were involved in a romantic relationship but later broke up. For years, they worked together for years as co-CEOs until that relationship disintegrated a few years ago.

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Shawe has remained fiercely opposed to any sale, while Elting, by all appearances, has gone along with the process.

Citizens called for a three-year delay in the sale of the profitable translation services company that is based in New York City and championed an effort to change Delaware law. The bill, calling for the change was introduced by State Sen. Colin, Bonini, R-Dover.

 The group claims a sale at a premium price would lead to layoffs and other cost-cutting efforts by a new owner.

Pincus has been battling Shawe and Citizens for a Pro-Business Delaware on concerns that opposition by employees and Shawe would make potential suitors less likely to make bids for TransPerfect or hold down the sales price.

In their filing, Tusk and Coffey have made framed the arguments on the grounds of free speech and have claimed that their group was formed over concerns that Pincus could undertake firings and other actions against employees.

A related issue has been the sources of funding for Citizens for a Pro-Business Delaware, which has launched advertising, public relations, and other campaigns.

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