Quimbee logo
DMCA.com Protection Status
From our private database of 16,400+ case briefs...

Henry v. Phixios Holdings, Inc.

Delaware Court of Chancery
2017 WL 2928034 (2017)


Facts

Phixios Holdings, Inc. (defendant) adopted a stock-transfer restriction in a stockholder agreement, permitting a majority of stockholders to revoke a stockholder’s stock if they found that the stockholder acted in ways damaging to the corporation. Jon Henry (plaintiff) was a Phixios stockholder. The above restriction was not noted on his stock certificate, and Henry did not have knowledge of the restriction before he bought the stock. Henry later became aware of the restriction but never agreed to be bound by it. In response to allegations that Henry tried to compete with Phixios, the company rescinded his stock in accordance with the stock-transfer restriction. Henry sought access to company books and records. Phixios denied him access, claiming that he was no longer a stockholder. Henry sued the company, seeking a declaration that the restriction did not apply to him and that he was a still a stockholder.

Rule of Law

Issue

Holding and Reasoning (Montgomery-Reeves, J.)

What to do next…

  1. Unlock this case brief with a free (no-commitment) trial membership of Quimbee.

    You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.

  2. Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.

    Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.

Here's why 374,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 16,400 briefs, keyed to 223 casebooks. Top-notch customer support.
  • The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
  • Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
  • Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.

Questions & Answers


Have a question about this case?

Sign up for a free 7-day trial and ask it

Sign up for a FREE 7-day trial