A resolution in the prolonged TransPerfect legal battle. Co-founder and co-CEO of the company, Phil Shawe will buy out the remainder of shares from the other co-founder and co-CEO of Transperfect: Liz Elting. While a few i’s need to be dotted and t’s crossed, the court-appointed mediactor says he does not foresee any problems with the sale.
Another byproduct of the drama does remain to be seen: Senate Bill 53 made its way through a portion of Delaware’s General Assembly, which stipulates the Chancery Court can only trigger a forced sale of a company only if other possible options are exhausted after 3 years, or all necessary parties involved agree to ask for such a sale. That bill is still pending.