Residents for a Professional-Enterprise Delaware Applauds Ruling To Unseal Courtroom Information in TransPerfect Case, Calls on Skadden Arps’ Robert Pincus To Resign As Custodian
WILMINGTON, Del.–(BUSINESS WIRE)–Today, following news that the Delaware Chancery Court has ruled to unseal nearly the entire court record in the court case that forced the unprecedented sale of TransPerfect, Citizens for a Pro-Business Delaware Campaign Manager Chris Coffey released the following statement:
“This ruling is a major step in the direction of transparency and accountability for the thousands of the TransPerfect employees who founded Citizens for a Pro-Business Delaware, whose livelihoods were put on the line by the Chancery Court’s unprecedented and unnecessary forced sale of TransPerfect.”
“Finally, we will get answers to why Skadden Arps has pilfered the coffers of TransPerfect to the tune of $14 million in undisclosed and non-itemized invoices. Finally, we will have the chance to see where the money went and if it was spent for legitimate and necessary legal services, rather than to just pad Skadden’s bottom line.”
“Now that Skadden will not be able to bill TransPerfect in perpetuity without scrutiny or transparency, we’re hopeful that their former Partner and custodian of the TransPerfect sale, Bob Pincus, will resign his role as custodian. After all, Pincus served as a faithless fiduciary when, while still the custodian of TransPerfect, he moved to hold the company in contempt of court to hide his fees from Nevada Courts. It seems that over-billing TransPerfect without explanation has been his only role in the years since the case was resolved.”
“We can’t wait to see the bills. If the numbers are as inflated as they’ve seemed for years, then perhaps Skadden’s lead attorney on the case, Jennifer Voss, should resign as well.”
“Regardless, this ruling is a major step towards improved transparency and accountability for a court that has continuously resisted any efforts at common-sense reforms to increase transparency and guarantee judicial integrity, and we’re grateful that TransPerfect employees and shareholders will finally get the answers they deserve.”
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.