Morris, Nichols, Arsht & Tunnell partner Ryan D. Stottmann has entered an appearance for DigitalOcean Holdings Inc., a cloud computing services provider, and its top executives in a pending shareholder derivative lawsuit. The action, filed Dec. 12 in Delaware District Court by Farnan LLP and the Rosen Law Firm on behalf of Kerry Flanagan, accuses the company's board of directors and certain of its executive officers of failing to disclose that the company's management lacked the skills and expertise to assess complex tax transaction, thus resulting in materially inaccurate financial statements. The case, assigned to U.S. District Judge Richard G. Andrews, is 1:23-cv-01424, Flanagan, et al. v. Spruill, et al.
Technology
January 26, 2024, 9:16 AM