The Delaware Court of Chancery has cleared the way for trial in an investor challenge to a deal that handed control of medical device company Halt Medical Inc. to a private equity firm in 2014.

Vice Chancellor Sam Glasscock III denied competing motions for summary judgment from American Capital Ltd. and a group of shareholders managed by Halt’s founder Edward F. Calesa on Wednesday, saying that important questions of fact still needed to be decided in the nearly four-year-old case.