DOVER, Del., Jan. 18, 2017 /PRNewswire-USNewswire/ -- Today, on the lawn across from the Delaware Supreme Court, dozens of TransPerfect employees, business representatives, and local residents held a press conference before the Court heard oral arguments on the TransPerfect case.
Hosted by advocacy group Citizens for a Pro-Business Delaware (CPBD), the press conference featured speakers who touted the state's business-friendly environment but warned that thousands of company jobs and the state's economy would be at risk if the state's highest court does not act fast to undo the Delaware Court of Chancery's ruling to break-up TransPerfect.
"By ordering a successful company be broken up and sold, the courts are threatening one of Delaware's main economic drivers—and scaring off potential businesses considering incorporation in Delaware. This single court decision completely undermines the state's friendly and sober corporate laws," said CPBD representative Chris Coffey."With me today are TransPerfect employees, business leaders, and local residents who care about their jobs, the nation's business environment, and Delaware's local economy. To the Delaware Supreme Court, we say: undo the Court of Chancery's decision to sell the company and keep business in Delaware."
TransPerfect employees rallied at the press conference, wearing t-shirts and waving signs asking the court to "Save TransPerfect" and "Protect our Jobs."
"Allowing the Court to force the sale of this company will be disastrous, not only for the future of businesses in Delaware, but also the future of the thousands of employees who will face the potential loss of everything they know," said former TransPerfect employee and President of Citizens for a Pro-business Delaware, Miranda Wessinger. "Some TransPerfect workers have been with the company for 10 or 20 years. How will those employees feed their families? Where will they go?"
CPBD was formed after the Delaware Court of Chancery ordered an appointed custodian to sell TransPerfect amid an internal dispute among company owners. Over the past few months, CPBD has been involved with court proceedings - submitting an amicus brief and arguing that the Court of Chancery appoint a custodian to act as a provisional director until the dispute is resolved.
Since the middle of last year, the advocacy organization has launched a grassroots campaign as well as digital, mail, and TV advertisements to help fight the court's ruling. Just last month an ad campaign aired nationally on stations including Bloomberg and Fox Business.
If the courts don't undo the ruling to sell the company, CPBD intends to introduce legislation in the state legislature that would amend the law to require a three-year waiting period before the forced break-up of a company.
Citizens for a Pro-Business Delaware is a group made up of more than 2,200 members including employees of the global translation services company TransPerfect, as well as concerned Delaware residents, business executives, and others. They formed in April of 2016 to focus on raising awareness with Delaware residents, elected officials, and other stakeholders about the issue.
For more information on Citizens for a Pro-Business Delaware visit DelawareForBusiness.org.
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SOURCE Citizens for a Pro-Business Delaware