Cyro-Cell's board of directors successful in defense of dissident shareholders attempt to remove incumbent directors
Client(s) Cryo-Cell International, Inc.
Jones Day defended Cyro-Cell International, Inc.'s board of directors against a challenge to their election brought by a dissident who had nominated a competing slate of directors at the company's annual meeting. Trial was held three months after the case was filed as part of an expedited Section 225 proceeding. The dissident's request to have the incumbent directors removed, and the dissident's nominees seated, was rejected.
Portnoy v. Cryo-Cell International, Inc., Civil Action No, 3142-VCS (Del. Ch.)