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COLON v. BUMBLE, INC.

C.A. No. 2022-0824-JTL.

305 A.3d 352 (2023)

Krystyn COLON, on behalf of herself and all other similarly situated stockholders of Bumble, Inc., Plaintiffs, v. BUMBLE, INC., Whitney Wolfe Herd, and Blackstone, Inc., Defendants.

Court of Chancery of Delaware.

Date Decided: September 12, 2023.

Attorney(s) appearing for the Case

Gregory V. Varallo , Daniel E. Meyer , BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP, Wilmington, Delaware; Peter B. Andrews , Craig J. Springer , David M. Sborz , Andrew J. Peach , Christopher P. Quinn , Jackson E. Warren , ANDREWS & SPRINGER LLC, Wilmington, Delaware; Thomas Curry , Tayler D. Bolton , SAXENA WHITE P.A., Wilmington, Delaware; Mark Lebovitch , BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP, New York, New York; Brian Schall , THE SCHALL LAW FIRM, Los Angeles, California; Attorneys for Plaintiff.

Raymond J. DiCamillo , Kevin M. Gallagher , Nicholas F. Mastria , RICHARDS, LAYTON & FINGER, P.A., Wilmington, Delaware; Jonathan K. Youngwood , Craig S. Waldman , SIMPSON THACHER & BARTLETT LLP, New York, New York; Jacques J. Lamothe , SIMPSON THACHER & BARTLETT LLP, Palo Alto, California; Kevin J. Orsini , Rory A. Leraris , CRAVATH, SWAINE & MOORE LLP, New York, New York; Dana M. Seshens , Kyra M. Kaufman , DAVIS POLK & WARDWELL LLP, New York, New York; Attorneys for Defendants.

OPINION GRANTING DEFENDANTS' MOTION FOR SUMMARY JUDGMENT

The plaintiff challenges two provisions in the certificate of incorporation of Bumble, Inc. (the "Company"). In simplified form, those provisions contemplate that each share will carry one vote, unless the share is owned by a "Principal Stockholder," in which case it...

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