Carsanaro v. Bloodhound Technologies, Inc.

OPINION

LASTER, Vice Chancellor.

Bloodhound Technologies, Inc. (“Bloodhound” or the “Company”) created web-*628based software applications that allowed healthcare providers to monitor claims for fraud. The plaintiffs are five software developers, including Bloodhound’s founder, who contend that their years of hard work laid the foundation for the Company’s success. All held common stock. They claim that after Bloodhound raised its initial rounds of venture capital financing, the venture capitalists obtained control of the Company’s board of directors. From that point on, they say, the venture…