Delaware Court of Chancery (Cook, V.C.); appeal to Delaware Supreme Court · US (DE) · 2026 · Decided; affirmed on appeal (reported Oct. 2026)
Citation/Docket: C.A. No. 2024-0651-NAC (Del. Ch. Mar. 10, 2026) (post-trial mem. op.); appeal No. 147, 2026 (Del. Supr.)
Posture: Post-trial; co-owner counterclaims against dissolution petition
Funder(s) involved: Priority Responsible Funding, LLC (50/50 members Priority Pre-Settlement Funding and Gard Family Office; PRF Fund I and II)
Priority Responsible Funding began in 2019 as a pre-settlement and non-recourse funder for plaintiffs' lawyers, with Brett Findler's company bringing the lawyer relationships and Casey Gard's Gard Family Office bringing the capital. When Gard launched hedge funds, the business shifted to originating and servicing fundings for those funds at a one percent origination fee and one percent annual servicing fee, rather than funding cases itself. After a falling out in 2024 the funds ended those agreements, Gard's office petitioned to dissolve the company, and Findler's side countersued for usurped opportunities and nondisclosure.
After a March 2025 trial, Vice Chancellor Cook found Findler's side had not proved breach of fiduciary duty or of the LLC agreement, because Findler signed the key transition documents and did not object until the falling out. The court held the deadlocked 50/50 company, with no business left to run, should be wound up and dissolved. The Delaware Supreme Court reportedly affirmed in October 2026.
Funders who share ownership should write down who may change the business model, how, and what must be disclosed first. A co-owner who signs off on a new structure and stays silent will struggle to challenge it later. A 50/50 company with no deadlock mechanism tends to end in dissolution.
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Compiled from public sources (court filings, published opinions, and secondary reporting). This is educational material, not legal advice; case citations should be independently verified before relied upon.