City of Hialeah Employees' Retirement System v. Insight ( 2024 )

IN THE SUPREME COURT OF THE STATE OF DELAWARE
CITY OF HIALEAH EMPLOYEES’ §
RETIREMENT SYSTEM, Derivatively on §
Behalf of Nominal Defendants nCINO, INC. §
(f/k/a Penny HoldCo, Inc.) and nCINO OpCo, §
Inc. (f/k/a nCino, Inc.), §
§
Plaintiff-Below, Appellant, §
§ No. 30, 2024
v. §
§ Court Below–Court of
INSIGHT VENTURE PARTNERS, LLC, § Chancery of the State of
INSIGHT HOLDINGS GROUP, LLC, § Delaware
JEFFREY L. HORING, PIERRE NAUDÉ, §
SPENCER G. LAKE, STEVEN A. § C.A. No. 2022-0846
COLLINS, JON DOYLE, PAM KILDAY, §
WILLIAM RUH, and GREG ORENSTEIN, §
§
Defendants-Below, Appellees, §
§
and §
§
nCINO, INC. (f/k/a Penny HoldCo, Inc.) and §
nCINO OpCo, Inc. (f/k/a nCino, Inc.), §
§
Nominal Defendants-Below, Appellees. §
Submitted: September 4, 2024
Decided: September 12, 2024
Before SEITZ, Chief Justice; VALIHURA, TRAYNOR, LEGROW, and
GRIFFITHS, Justices, constituting the Court en Banc.
ORDER
After consideration of the parties’ briefs and the record on appeal, and
following oral argument, we find it evident that the judgment of the Court of
Chancery should be affirmed on the basis of and for the reasons stated in the
Memorandum Opinion dated December 28, 2023, and the Orders granting the
Insight defendants’ and nCINO defendants’ motions to dismiss dated December 29,
2023.
NOW, THEREFORE, IT IS ORDERED that the judgment of the Court of
Chancery is AFFIRMED.
BY THE COURT:
/s/ N. Christopher Griffiths
Justice
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