Former lovers Liz Elting and Phil Shawe came to despise each other so much that a judge ordered them to sell TransPerfect, the thriving translation company they co-founded a quarter century ago. But that didn't stop the feud. On Wednesday Shawe's mother attempted to broker peace by saying she would side with her son's ardent foe.
TransPerfect Global Inc. may be able to avoid a court-ordered sale intended to resolve a deadlock between the company’s two largest shareholders.
Shirley Shawe March 15 offered to vote her 1 percent stake in TransPerfect on behalf of one of the company’s other owners, Elizabeth Elting, who owns 50 percent of the shares. Doing so would end the deadlock between Elting and Shirley Shawe’s son, Phil Shawe, who owns 49 percent of the shares.
DOVER — In the much-ballyhooed “War of the Roses” case over the $500 million TransPerfect Group, the defense Wednesday made a move to minimize, if not nullify, the Court of Chancery’s jurisdiction and discretion in the case.
If successful, the filing will relieve the pressure on the Court of Chancery to force the sale of the company.
Another week another TransPerfect lawsuit. Just days after an ex-employee filed a class action suit over a January 2017 data breach, TransPerfect’s former Chief Sales Officer and 20-year company veteran sues the embattled New York-based language service provider for a minimum of USD 50m over what he claims was a breach of contract.
DOVER, Del. - A part-owner of a successful translation services company made rounds meeting with Delaware lawmakers Wednesday in hopes of saving the company.
A court-ordered decision to sell TransPerfect came in 2015 after a judge concluded the feuding CEO's Philip Shawe and Elizabeth Elting was "hopelessly deadlocked" over significant matters and business decisions.
Shirley Shawe, mother of TransPerfect co-Chief Executive Officer Phil Shawe, met with Republican members of the Delaware House and Senate in a last-ditch effort to prevent the company from being sold.
Sen. Colin Bonini, R-Dover South, had invited Shawe, who owns 1 percent of the company, to Dover to make her case to legislators who were largely supportive of her cause. Bonini plans to introduce legislation next week that would add intermediate steps before the Delaware Court of Chancery can approve the sale of a private company.
A fight for the jobs of of more than 4,000 workers at the global translation service company TransPefect continues in Delaware, where courts have ruled that the company must be sold.
Shirley Shawe, a TransPerfect shareholder, was in Dover to show support for State Senator Colin Bonini's bill that would require a three-year waiting period before a court could induce the sale of a solvent company that's incorporated in Delaware.
Shirley Shawe, mother of TransPerfect CEO Phil Shawe, and a 1 percent owner in the company, has offered a proposal to stop a sale of the New York-based translation company.
TransPerfect is at the center of a legal dispute in Delaware, where it is incorporated. The Delaware Court of Chancery has ordered the company to be sold after ruling infighting among owners Phil Shawe and Liz Elting have created deadlocks that could irreparably harm the company. Phil Shawe has opposed the sale and appealed the case to the Delaware Supreme Court, which affirmed the court's ruling.
More than 70 percent of voters surveyed by Slingshot Strategies, LLC., believe that the government should not have the power to force the sale of TransPerfect. The 800-person poll tested perceptions towards the ongoing court case involving the company, as well as the government’s role in the affairs of Delaware businesses.
For the last year, I have become more and more disheartened by the Transperfect case. This is the company started by two founders, Philip Shaw and Elizabeth Elting, in their dorm room in 1992, which now employs some 4,000 people across the world. After personal differences between the partners came to an impasse, the company’s fate was sent to Delaware Chancery Court. There, a chancery judge has forced the company into sale and things are becoming more perilous every day.