A Delaware Chancery Court judge’s finding that the former CEO of payment-processing company Plimus Inc. had defrauded a private equity firm in the run-up to its $115 million sale in 2011 has led to the executive’s resignation from the company he had been leading.

Isreali-based media firm Taptica International Ltd said late Monday that Hagai Tal was resigning after Vice Chancellor Sam Glasscock III in his opinion found that the executive had hidden key information from buyer Great Hill Equity Partners in order to position himself as chief executive of post-merger company BlueSnap Inc.