Tomales Bay Capital Anduril III, L.P. v. Pro Publica, Inc.

Opinion

IN THE SUPREME COURT OF THE STATE OF DELAWARE

TOMALES BAY CAPITAL ANDURIL § III, L.P., a Delaware limited partnership, § and TOMALES BAY CAPITAL § No. 163, 2026 ANDURIL III GP, LLC, a Delaware § limited liability company, and IQBALJIT § KAHLON, Managing Member of Tomales § Bay Capital Anduril III GP, LLC, § Court Below: Court of Chancery § of the State of Delaware Defendants Below/Appellants, § § v. § § LEO INVESTMENTS HONG KONG § C.A. No. 2022-0175 LIMITED, a limited liability company § organized under the laws of Hong Kong, § § Plaintiff Below, § § and § § PRO PUBLICA, INC., § § Objector Below/Appellee. §

Submitted: June 2, 2026 Decided: June 4, 2026

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

ORDER

This 4th day of June, 2026, after careful consideration of the parties’ briefs

and the record below, we find it evident that the judgment of the Court of Chancery

should be affirmed on the basis of and for the reasons stated in the Order Addressing

1 Motions for Continued Confidential Treatment dated January 28, 2026, and the

Order Denying Motion for Reargument dated March 18, 2026.

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

Chancery is AFFIRMED. Under Supreme Court Rule 18, the mandate shall issue

forthwith.

BY THE COURT:

/s/ Abigail M. LeGrow Justice