Frigon Maher & Stern LLP recently achieved a complete trial victory for a New York City-based private equity fund in the Delaware Court of Chancery, the nation’s preeminent forum for the determination of disputes involving Delaware companies. FM Stern represented Yenni Income Opportunities Fund I, L.P. (the “Fund”). In its decision in Braga Investment & Advisory, LLC v. Yenni Income Opportunities Fund I, L.P., the Court’s Chancellor, Honorable Andre G. Bouchard, issued a ruling in favor of the Fund regarding issues of contract law and board governance.
The plaintiff was represented by Richards, Layton & Finger, P.A., and Moses & Singer LLP. The litigation spanned over three years, first in New York and then in Delaware. After a two-day trial conducted before Chancellor Bouchard, the Court issued a 50-page opinion holding that the Fund was entitled to judgment in its favor on all claims.