Software Co. Must Pay Up For Withheld Shares, 3rd Circ. Told

Law360 (November 9, 2020, 5:39 PM EST) — Shareholders of a former energy software business urged the Third Circuit to award them damages over C3 Inc.’s alleged failure to deliver promised shares as part of the software companies’ all-stock merger, arguing Monday that the district court that tossed the claims demanded specifics that weren’t required under Delaware law.  

During an oral argument held via Zoom, an attorney representing former Efficiency 2.0 LLC shareholders told a three-judge panel that a Delaware federal judge had erred in ruling that the shareholders’ breach of contract claim failed because they didn’t offer evidence about the stock’s value on the day the shares were…

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