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Jul 8, 2022 · Relevant here, Feldman initially invested in FlashPoint through his. wholly owned subsidiary, Chelsey Capital, LLC (“Chelsey”), in 2019 and caused. Chelsey to transfer the FlashPoint stock to SDF, another of his wholly owned. subsidiaries, in March 2015. (2) On February 16, 2021, the defendants moved for partial summary.
Jun 24, 2022 · ORDER. James T. Vaughn, Jr. Justice. After careful consideration of the notice of interlocutory appeal, the supplemental notice of appeal, and their exhibits, it appears to the Court that: (1) In October 2017, the plaintiffs below/appellants, SDF Funding LLC ("SDF") and Stuart D. Feldman ("Feldman") (together, the "Plaintiffs"), filed this ...
It is undisputed that Plaintiff Stuart D. Feldman invested $1 million in Flashpoint Technology, Inc. (“Flashpoint”) in 1999 through a wholly owned LLC, Chelsey Capital, LLC (“Chelsey”), and assigned the Flashpoint stock from Chelsey to Plaintiff SDF Funding LLC (“SDF”) in March 2015.
- Background
- The Court Declines to Grant Feldman Equitable Standing
- Closing Thoughts
In 1999, plaintiff Stuart Feldman acquired a minority stock interest in nominal defendant Flashpoint Technology, Inc. through his wholly-owned company, Chelsey Capital, LLC. In 2015, Feldman caused Chelsey to transfer its Flashpoint shares to another Feldman-owned entity, SDF Funding LLC. Beginning in 2015, Feldman made a series of Section 220 dema...
Chancellor McCormick’s opinion denying Feldman equitable standing turned mainly on her reading of Schoon v Smith where the Delaware Supreme Court, in declining to extend the doctrine of equitable standing to allow a director to bring a derivative action against his fellow directors, held that the doctrine’s reach should be limited to “new exigencie...
At least in New York, and I suspect in most jurisdictions, equitable standing is not a frequently litigated issue in shareholder derivative actions or other types of disputes among co-owners of closely held entities. Indeed, in the 14+ years of this blog’s existence, this is only the second post concerning equitable standing. The first was the Carl...
Feb 1, 2022 · Plaintiff Stuart D. Feldman invested in Flashpoint in 1999 through a wholly owned entity. In March 2015, Feldman caused Flashpoint stock to be transferred to another Feldman-owned entity, Plaintiff SDF Funding, LLC ("SDF"). In May 2015, Feldman's investment manager requested Flashpoint's audited financials.
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Nov 6, 2023 · Fairstead Affordable LLC, FCM Affordable LLC, JD2 Affordable LLC, Stuart Feldman, Jeffrey Goldberg, FSC EF&F LLC, Fairstead Capital LLC, Fairstead Capital Management LLC, JD2 Realty Management LLC, FA DC LLC, FSC Realty Management LLC, and SDF Funding LLC. LASTER, V.C.
