On December 14, 2018, the Delaware Court of Chancery denied the motion to dismiss of defendants James Park, Eric Friedman, Jonathan Callaghan, Steven Murray, Christopher Paisley and William Zerella. Plaintiffs' Second Amended Complaint (which can be accessed here) alleges claims to hold certain directors and officers of Fitbit, Inc. liable for breaching their duty of loyalty to the Company for insider trading in violation of Brophy v. Cities Serv. Co., 70 A.2d 5 (Del. Ch. 1949).

The Court's Opinion can be accessed here.