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WEST COAST OPPORTUNITY v. CREDIT SUISSE

No. 474, 2009.

12 A.3d 1128 (2010)

WEST COAST OPPORTUNITY FUND, LLC, Defendant Below, Appellant, v. CREDIT SUISSE SECURITIES (USA), LLC, Plaintiff Below, Appellee.

Supreme Court of Delaware.

Decided: May 17, 2010.

Attorney(s) appearing for the Case

Daniel A. Dreisbach (argued), Scott W. Perkins and Peter C. Wood, Jr., Esquires , of Richards, Layton & Finger, P.A., Wilmington, Delaware, for Appellant.

Daniel B. Rath and Rebecca L. Butcher, Esquires , of Landis Rath & Cobb LLP, Wilmington, Delaware; Of Counsel: Allan N. Taffet (argued) and Brian A. Burns, Esquires , of Duval & Stachenfeld LLP, New York, New York; for Appellee.

Before STEELE, Chief Justice, HOLLAND, BERGER, JACOBS and RIDGELY, Justices, constituting the Court en Banc.

JACOBS, Justice:

West Coast Opportunity Fund, LLC ("West Coast"), the defendant below, appeals from a Court of Chancery interlocutory order granting judgment on the pleadings. In its order the Court of Chancery declared that a "lockup" agreement prohibiting a transfer of stock in GreenHunter Energy, Inc. ("GreenHunter") did not govern the transfer of pledged shares of GreenHunter to the plaintiff below, Credit Suisse Securities...

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