DOVER, Del.–(BUSINESS WIRE)–The fight for accountability in the Chancery Court continues as Citizens for a Pro-Business Delaware (CPBD) stands in solidarity with TransPerfect employees demanding financial oversight and protection from abuse from Skadden Arps Meagher & Flom LLP and custodian Robert B. Pincus.
On February 23, Chancellor Andre Bouchard demanded a personal affidavit from Skadden Partner Jennifer Voss addressing the validity and rationality of the custodial fees charged to TransPerfect. The commendable request for documented proof of financial legitimacy from Voss follows years of failure from Bouchard to solicit financial disclosures, despite an utter absence of itemized invoices from Skadden Arps leading to an accumulated $40+ million in undisclosed, irresponsible, and unsupportable fees.
CPBD has been tirelessly advocating for years on behalf of Delaware citizens to bring common-sense reforms like cameras in the courts, financial transparency from judicial officers, and randomized case assignments. Without these measures to bring transparency and accountability, the Chancery Court has enabled bad actors like Skadden Arps to systematically overbill those they claim to represent.
Said Chris Coffey, Citizens for a Pro-Business Delaware campaign manager, “The consequences of years of refusal to add any meaningful transparency and accountability to the Chancery Court is on painful display in this case of bad faith fees. The livelihoods of employees, as well as Delaware residents, are at stake if nothing changes. It is beyond time for Chancellor Bouchard to speak up and set a precedent for the Chancery Court and the entire state of Delaware. In the last months of his leadership, we are requesting that he leave a legacy for equitable justice and sound leadership that reflects the morals of everyday Delawareans.”
Citizens for a Pro-Business Delaware is a group made up of more than 5,000 members including employees of the global translation services company TransPerfect, as well as concerned Delaware residents, business executives, and others. They formed in April of 2016 to focus on raising awareness with Delaware residents, elected officials, and other stakeholders about the unprecedented forced sale of TransPerfect. While their primary goal of saving the company has been accomplished, they continue their efforts to fight for more transparency in the Delaware Chancery Court. For more information on Citizens for a Pro-Business Delaware or to join the cause, visit DelawareForBusiness.org.