Legal Opinion

In re Fitbit, Inc. Stockholder Derivative Litigation

Court of Chancery of Delaware

Decided January 14, 2019No. CA 2017-0402-JRSPublished

1Opinion of the Court

IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE IN RE FITBIT, INC. STOCKHOLDER ) Consolidated DERIVATIVE LITIGATION ) C.A. No. 2017-0402-JRS ORDER REFUSING APPLICATION FOR CERTIFICATION OF INTERLOCUTORY APPEAL WHEREAS, Plaintiffs filed a derivative complaint on behalf of Fitbit, Inc. alleging that certain members of the Fitbit board of directors and certain other Fitbit fiduciaries sold stock in Fitbit’s initial and follow-on public offerings before negative news regarding the efficacy of one of Fitbit’s key products was disclosed to the market, and that other directors allowed them to do…

2Cases cited8 opinions

  1. Guth v. Loft, Inc.Supreme Court of Delaware · 1939
  2. Desimone v. BarrowsCourt of Chancery of Delaware · 2007
  3. Thorpe by Castleman v. Cerbco, Inc.Supreme Court of Delaware · 1996
  4. Sandys Ex Rel. Zynga Inc. v. PincusSupreme Court of Delaware · 2016
  5. Kahn v. Kolberg Kravis Roberts & Co.Supreme Court of Delaware · 2011

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