Delaware Court-Appointed Custodian Drives Top Talent Away From TransPerfect

DOVER, Del., Oct. 18, 2017 /PRNewswire/ -- Two C-level employees for TransPerfect have resigned within the last two weeks, both naming Custodian Pincus' disregard for the company's employees and success as the reason for leaving. The Chief Technology Officer and the Chief Information Officer had their decision-making powers taken away by the court-appointed Custodian, despite their status as long-tenured managers of the globally successful company. Custodian Pincus has now overseen the largest personal data breach in company history, the reduction of health and retirement benefits for employees and the vacating of multiple leadership positions.

"The courts are out of control, and we are asking legislators, business allies and the residents of Delaware to act now and halt the destruction of a company to which so many have dedicated years of their lives for its success," said Miranda Wessinger, President of Citizens for a Pro-Business Delaware. Citizens for a Pro-Business Delaware persists in its efforts to expose the unprecedented overreach of the Delaware courts to sell a private and profitable company.

Last month, the U.S. Chamber of Commerce published Delaware's drop from the best-ranked state for business litigation, but the courts have continued their path, unabashed by the criticism from large businesses. "Custodian Pincus is hurting TransPerfect, its employees and Delaware's business climate, while many Delaware legislators look away rather than act against the state's powerful litigation network," said Wessinger. "If we continue to ignore the custodian's reckless actions, we will have lost the chance to save this successful company and more than 4,000 American jobs."

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.

Contact: Mary Urban, [email protected]

SOURCE Citizens for a Pro-Business Delaware