On Aug. 16, following a trial, Vice Chancellor J. Travis Laster of the Delaware Court of Chancery issued a ruling in In re Trados Inc. Shareholder Litigation, laying out how the provisions of various equity instruments commonly used to raise money in venture capital-backed companies can create conflicts of interest for directors when considering sale transactions. The case involved the sale of Trados, a so-called zombie company because, while profitable, it did not generate the type of returns typically required by venture capital firms.