News & Media
Case Updates

On May 31, 2024, Wolf Popper LLP and co-counsel filed a class action complaint in the Delaware Chancery Court against Sanjay Chakrabarty, Mukesh Sharda, Bharat Rao, Sudip Banerjee, Albert Aboody, Anupam Pahuja, Ankul Agarwal, Nallathur S. Balasubramanian, and Capital Square Partners PTE LTD (“CSP”).  In connection with the StarTek Buyout, the complaint alleges that Defendants breached their fiduciary duties to StarTek stockholders when StarTek’s controlling stockholder, CSP, was allowed to utilize its control over StarTek and StarTek’s Board of Directors to effectuate the Buyout, which provided grossly inadequate consideration to StarTek stockholders at $4.30 in cash per share.  The Complaint further alleges that the StarTek directors who approved the Buyout labored under disabling conflicts of interests and were beholden to CSP.
 
The complaint, among other things, seeks damages on behalf of all common stockholders of
StarTek to the exclusion of Defendants and those related to or affiliated with any of the Defendants, resulting from Defendants’ breach of their fiduciary duties in furtherance of the Buyout. 
 
The filing of the class action complaint, linked herein, was reported on by multiple publications. 
The case is Michael Popper v. Sanjay Chakrabarty, Case No. 2024-0587-LWW (Del. Ch.), pending before Vice Chancellor Lori W. Will.

Wolf Popper LLP is a nationally recognized law firm in the fields of securities litigation, consumer fraud, ERISA, antitrust, health care litigation, and corporate transactional/derivative litigation.
 

Phone: Carl L. Stine- (212) 451-9631
Phone:  Antoinette A. Adesanya- (212) 451-9635
Email: Outreach@wolfpopper.com