Paul S. Buddenhagen v. Barry L. Clifford

IN THE SUPREME COURT OF THE STATE OF DELAWARE

PAUL S. BUDDENHAGEN,

Individually and on Behalf of All

Others Similarly Situated, and

Derivatively on Behalf of MARITIME

EXPLORATIONS, INC.,

Plaintiffs Below, Appellants,

v.

BARRY L. CLIFFORD and THE

ESTATE OF ROBERT T. LAZIER,

Defendants Below, Appellees.

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§ No. 228, 2025

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§ Court Below–the Court of

§ Chancery of the State of

§ Delaware

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§ C.A. No. 2019-0258

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Submitted: November 19, 2025

Decided: December 2, 2025

Before SEITZ, Chief Justice; VALIHURA, TRAYNOR, LEGROW, and

GRIFFITHS, Justices, constituting the Court en Banc.

ORDER

After careful consideration of the parties’ briefs and the record on appeal, and

following oral argument, we find it evident that the judgment below should be

affirmed on the basis of and for the reasons stated in the Court of Chancery’s Post-

Trial Memorandum Opinion dated May 10, 2024.

NOW, THEREFORE, IT IS ORDERED that the judgment of the Court of

Chancery is AFFIRMED.

BY THE COURT:

/s/ N. Christopher Griffiths

Justice