$79 Million Verdict-Brown v. Matterport, Delaware Chancery Court, May 2024

Business Litigation

Conal Doyle was part of the trial team that obtained a verdict of $79,092,133.12 for the former CEO of Matterport, Inc., a Silicon Valley Tech Company that provides 3D spatial mapping to the real estate and hospitality industries.  After pre-judgment interest, the verdict exceeds $90 million.  In Phase I of the case, the Vice Chancellor ruled that Matterport improperly restricted Mr. Brown from trading his Matterport stock after the company went public through a de-SPAC transaction in July 2021.   This ruling was affirmed by the Delaware Supreme Court in 2022.  Phase II of the case centered around whether Mr. Brown suffered damages as a result of Matterport’s conduct.  After a five-day trial, the Vice Chancellor found that Matterport was liable to Mr. Brown for more than $90 million, including pre-judgment interest.  Matterport has appealed this ruling to the Delaware Supreme Court.   To date, this has been a “zero offer” case-Matterport has not made any settlement offers.

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