SEDA Expert Craig Coben Contributed to Successful High Court Litigation
SEDA Expert Craig Coben was engaged on behalf of a publicly listed investment fund in proceedings before the High Court of Justice of England and Wales concerning the development and financing of an investment business focused on intellectual property assets.
THE CASE
The proceedings arose from the development of a business model involving the acquisition and active management of intellectual property rights.
The claimant alleged that a former director had improperly pursued a business opportunity through newly established corporate vehicles and sought an account of profits arising from the subsequent development of the investment platform.
The case raised complex issues concerning directors’ duties, corporate opportunities, public-market fundraising, accessory liability, and the circumstances in which a business concept pursued through a new corporate structure may remain connected to an earlier venture.
THE EXPERTS' ROLE
SEDA Expert Craig Coben provided expert consulting support to counsel concerning capital markets and the feasibility of the proposed initial public offering.
His work addressed the viability of the proposed IPO, which remained a central theme throughout the proceedings and informed several issues in dispute, including important questions concerning the defendants' bona fides.
THE RESULT
The High Court dismissed all claims against the defendants, finding no breach of fiduciary duty and no accessory liability.
EXPERT INVOLVED
Craig Coben
Craig Coben is a leading investment banking expert with a peerless level of relevant experience. He previously served as Vice Chairman of Global Capital Markets and Global Head of Equity Capital Markets at Bank of America Merrill Lynch, specializing in IPOs, SPACs, and a full range of equity and equity-linked products.
Learn more about SEDA at sedaexperts.com
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