PJT Holdings LLC v. Costanzo - Affirmance of Court of Chancery Judgment
Summary
The Delaware Supreme Court affirmed the Court of Chancery's judgment in PJT Holdings LLC v. Costanzo, upholding rulings from December 2023 through August 2025. The decision, authored by Justice Valihura with concurrence from Chief Justice Seitz and Justices Traynor, Legrow, and Griffiths, resolves a corporate dispute involving cross-motions for summary judgment and post-trial proceedings.
What changed
The Delaware Supreme Court affirmed in its entirety the judgment of the Court of Chancery, which had ruled on cross-motions for summary judgment and issued a post-trial opinion in this corporate matter. The Supreme Court adopted the lower court's reasoning from its oral rulings (December 7, 2023), order on cross-motions (January 17, 2024), post-trial opinion (May 15, 2025), and final order and judgment (August 6, 2025).
Affected parties, particularly LLCs and corporate entities operating under Delaware law, should note this affirmance as establishing precedent on the issues resolved by the Court of Chancery. Corporate practitioners and compliance officers should review the underlying Court of Chancery rulings for guidance on summary judgment standards, fiduciary duties, or other corporate governance matters addressed in the case.
What to do next
- Review the Court of Chancery rulings from 2023-2025 to assess impact on similar corporate disputes
- Monitor for published post-trial opinion details for precedent implications
Archived snapshot
Apr 10, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
IN THE SUPREME COURT OF THE STATE OF DELAWARE PJT HOLDINGS, LLC, § § No. 366, 2025 Plaintiff-Below, Appellant, § § Court Below: Court of Chancery
- § of the State of Delaware § DANIEL COSTANZO, BENJAMIN § C.A. No. 2023-0665 COSTANZO, and BRIAN § FITZPATRICK, § § Defendants-Below, Appellees. § Submitted: March 25, 2026 Decided: April 9, 2026 Before SEITZ, Chief Justice; VALIHURA, TRAYNOR, LEGROW, and GRIFFITHS, Justices. O R D E R NOW this 9 day of April 2026, the Court having considered this matter on the briefs th and oral arguments of the parties and the record below and having concluded that the same should be affirmed on the basis of and for the reasons assigned by the Court of Chancery in its Oral Rulings on Cross-Motions for Summary Judgment dated December 7, 2023; its
Order Resolving the Parties' Cross-Motions for Summary Judgment dated January 17,
2024; its Post-Trial Opinion dated May 15, 2025; and its Final Order and Judgment dated August 6, 2025.
NOW THEREFORE, IT IS ORDERED that the judgment of the Court of Chancery be and the same hereby is AFFIRMED. BY THE COURT: /s/ Karen L. Valihura Justice
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