ODN Holding Corp. v. Hsu

This action arose out of plaintiff Lawrence Ng's sale (the Sale) of a majority of the common stock of plaintiff ODN to plaintiff Oak Hill. Defendant Lawrence Hsu initially filed an action challenging the Sale (the First Delaware Action) and subsequently dismissed the First Delaware Action with prejudice two weeks after it was filed, and no defendant ever appeared in that action. More than 20 months later, Hsu and three other plaintiffs filed another action challenging the Sale (California Action). Three weeks after that, defendants in the California Action filed the current action (Second Delaware Action), seeking, among other things, a declaration that they did not commit certain wrongs alleged in the California Action. Hsu has moved to dismiss, or alternatively, to stay the Second Delaware Action in favor of the California Action. The court denied Hsu's motion but granted his motion to stay the Second Delaware action because the California Action was in its initial stages. Depending on what happened in the California Action, the court might move forward with the Second Delaware Action. View "ODN Holding Corp. v. Hsu" on Justia Law