Morris, Nichols, Arsht & Tunnell and King & Spalding filed a breach-of-contract lawsuit Tuesday in Delaware Court of Chancery on behalf of Vale Ventures IA LLC. The suit pursues claims against Great Jay Management Investments LLC and other defendants for failing to purchase $8 million in equity securities from Vale Ventures in connection with an executed equity commitment letter agreement. Counsel have not yet appeared for the defendants. The case is 2022-1100, Vale Ventures Ia LLC v. Gray Jay Management Investments, LLC.

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