Ropes & Gray’s Litigation Win for 5i Sciences Highlighted in Delaware Law Weekly

In The News
December 20, 2010

The Dec. 22 issue of Delaware Law Weekly quoted Ropes & Gray New York-based government enforcement partner Eva Ciko Carman on the firm’s winning a complete victory for 5i Sciences Inc. in its books and records dispute with a member of the board of directors.

“This was a unique case and a unique ruling,” Carman told the publication, because the burden is on the corporation to prove why it should not furnish the information sought by the director.

The victory came at a bench trial on Nov. 23 before Chancellor William Chandler III of the Delaware Chancery Court. The plaintiff, Craig Gunther, was seeking information from 5i to benefit Blade Ventures LP, the venture capital firm where he is a principal and managing director.

“To the extent [Gunther] was looking above and beyond what 5i provided, the court found it was excessive,” Carman told Delaware Law Weekly.

Read more about the case here.