SV Investment Partners, LLC v. ThoughtWorks, Inc.

7 A.3d 973 (2010)

Study Aids
Case Briefs Overview
Casebooks
Case Briefs
S
From our private database of 46,300+ case briefs, written and edited by humans—never with AI.

SV Investment Partners, LLC v. ThoughtWorks, Inc.

Delaware Chancery Court
7 A.3d 973 (2010)

Facts

A group of investment funds and their advisor, SV Investment Partners, L.L.C. (collectively, SVIP) (plaintiffs), owned the vast majority of preferred stock in ThoughtWorks, Inc. (defendant). ThoughtWorks’s amended articles of incorporation granted the preferred stockholders the right to redeem their stock for cash, payable out of funds legally available to the company. ThoughtWorks lacked the cash to redeem the preferred shares in full. However, the ThoughtWorks board of directors followed a policy of meeting every quarter to determine whether cash could be obtained for a redemption. In this manner, ThoughtWorks made several partial redemptions over a period of years. However, SVIP wanted redemption in full. SVIP brought suit in the Delaware Chancery Court, seeking a judgment in the amount of the aggregate redemption price, $64,126,770. SVIP argued that ThoughtWorks had a surplus of at least $68 million and that this constituted legally available funds with which the full redemption price could be paid.

Rule of Law

Issue

Holding and Reasoning (Laster, 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 804,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.

    Unlock this case briefRead 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.

    Learn about our approachRead more about Quimbee

Here's why 804,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 46,300 briefs, keyed to 988 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.

Access this case brief for FREE

With a 7-day free trial membership
Here's why 804,000 law students have relied on our case briefs:
  • Reliable - written by law professors and practitioners, not other law students
  • The right length and amount of information - includes the facts, issue, rule of law, holding and reasoning, and any concurrences and dissents
  • Access in your class - works on your mobile and tablet
  • 46,300 briefs - keyed to 988 casebooks
  • Uniform format for every case brief
  • Written in plain English - not in legalese and not just repeating the court's language
  • Massive library of related video lessons - and practice questions
  • Top-notch customer support

Access this case brief for FREE

With a 7-day free trial membership

Casebooks

Business Associations

Key Terms