LegalApr 13, 2026, 09:16 AM
Exodus Sues W3C to Force Acquisition Closure
AI Summary
Exodus Movement, Inc. has filed a lawsuit in the Delaware Court of Chancery against W3C Corp and its CEO, Garth Howat, to compel them to fulfill their obligations under a November 24, 2025 Stock Purchase Agreement. The company has also declared loans to W3C payable on demand and exercised its rights under related loan security. Exodus obtained the necessary UK Financial Conduct Authority approvals for the acquisition on April 8, 2026, and is confident in a swift resolution to close the transaction.
Key Highlights
- Exodus filed a lawsuit in Delaware Court of Chancery against W3C Corp and CEO Garth Howat.
- The lawsuit aims to compel W3C to comply with the November 24, 2025 Stock Purchase Agreement.
- Exodus declared W3C loans payable on demand and exercised related loan security rights.
- UK Financial Conduct Authority approval for the W3C acquisition was obtained on April 8, 2026.
- Exodus intends to move expeditiously to close the W3C acquisition.