Skillz says Tether R termination notice is invalid

Skillz says Tether R termination notice is invalid

Skillz Inc., an online gaming platform, has challenged the validity of Tether R's termination notice, alleging that it is invalid. This legal action comes amidst a series of high-profile court cases involving mergers, settlements, and executive conduct. The company is seeking to invalidate the termination notice, which could have significant implications for its ongoing operations and financial health.

The court case is part of a broader trend in Delaware Chancery Court, where several major corporations are facing legal scrutiny. On Tuesday, September 3, 2025, a settlement hearing will be held in Wilmington, Delaware, regarding a class action lawsuit against Skillz Inc. The case involves a $10 million cash settlement over a blank-check transaction that took Skillz public. The attorneys representing the investor leading the litigation seek a $1.75 million fee award [1].

On Wednesday, September 3, 2025, a hearing will be held in Chancery Court to discuss a lawsuit challenging the rescue financing that allowed Juul Labs Inc. to avert bankruptcy. The lawsuit alleges that hotel billionaire Nick Pritzker and venture capitalist Riaz Valani exploited Juul’s crisis and steered value from the company to themselves and their investment vehicles. Juul's brief supporting the motion to dismiss states that the $1.9 billion debt-to-equity conversion was in the best interests of all stockholders [2].

On Thursday, September 4, 2025, a hearing will be held in Chancery Court to address a dispute between Albertsons Companies Inc. and The Kroger Co. Albertsons is seeking details about the personal conduct of ex-Kroger CEO Rodney McMullen, who resigned suddenly following Kroger’s failed $24.6 billion merger with Albertsons. The case highlights the complex legal issues surrounding executive conduct and mergers in the grocery industry [3].

These court cases underscore the importance of corporate governance and the legal implications of executive decisions. As these cases unfold, investors and financial professionals will closely monitor the developments, which could impact the stock prices and operational strategies of these major corporations.

References:
[1] https://news.bloomberglaw.com/securities-law/this-week-in-chancery-court-albertsons-kroger-pritzker-juul
[2] https://news.bloomberglaw.com/securities-law/this-week-in-chancery-court-albertsons-kroger-pritzker-juul
[3] https://news.bloomberglaw.com/securities-law/this-week-in-chancery-court-albertsons-kroger-pritzker-juul