Sanderson v. Verdasys, Inc.

Billings, Thomas P., J.

These actions arise from a recapitalization in early 2011 of Verdasys, Inc, a closely held Delaware corporation. Plaintiffs Sander-son and Bucella, who each (and together) owned a minority of Verdasys stock, bring their case as a class action on behalf of all holders of Verdasys common stock. The defendants are in two separately represented groups: the “Corporate Defendants” (Verdasys, the members of its board of directors (the “Director Defendants”), and two founders and former directors (Michels and Birnbaum)), and the “Investor Defendants” (the company’s three…