Sv Investment Partners, LLC, Schroder Ventures U.S. Fund L.p. 1, Schroder Ventures U.S. Fund L.p. 2, Sitco Nominees…

Summary

The Supreme Court of Delaware affirmed judgment for ThoughtWorks because SVIP failed to prove that ThoughtWorks had sufficient funds legally available to redeem the preferred stock, even assuming SVIP's proposed equation of legally available funds with surplus. The court therefore did not decide whether the charter phrase legally meant statutory surplus. The court deferred to the Court of Chancery's supported factual findings and rejection of SVIP's expert valuation evidence.