Zync, Inc. v. Porsche Investments Management, S.A.

CourtCourt of Chancery of Delaware
DecidedMay 26, 2026
DocketC.A. No. 2025-0284-JTL
StatusPublished

This text of Zync, Inc. v. Porsche Investments Management, S.A. (Zync, Inc. v. Porsche Investments Management, S.A.) is published on Counsel Stack Legal Research, covering Court of Chancery of Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Zync, Inc. v. Porsche Investments Management, S.A., (Del. Ct. App. 2026).

Opinion

IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE

ZYNC, INC.,

Plaintiff,

v. C.A. No. 2025-0284-JTL

PORSCHE INVESTMENTS MANAGEMENT, S.A., PORSCHE DIGITAL, INC., CHRISTIAN KNÖRLE, and ULRICH THIEM,

Defendants.

OPINION ADDRESSING RULE 12(B)(2) MOTION

Date Submitted: February 11, 2026 Date Decided: May 26, 2026

Christopher H. Lyons, Jason M. Avellino, ROBBINS GELLER RUDMAN & DOWD LLP, Wilmington, Delaware; Randall J. Baron, Michaela Park, ROBBINS GELLER RUDMAN & DOWD LLP, San Diego, California; Attorneys for Plaintiff.

Thomas W. Briggs, Jr., Sara Carnahan, MORRIS, NICHOLS, ARSHT & TUNNELL LLP, Wilmington, Delaware; Charles A. DeVore, Carrie M. Stickel, KATTEN MUNCHIN ROSENMAN LLP, Chicago, Illinois; Zoe Lo, KATTEN MUNCHIN ROSENMAN LLP, New York, New York; Attorneys for Defendants Porsche Investments Management, S.A., Porsche Digital, Inc., Christian Knörle, and Ulrich Thiem.

LASTER, V.C. During the Cold War, the Strategic Air Command kept bombers armed with

nuclear warheads in the air around the clock off the East Coast. On January 23, 1961,

a bomber spiraled out of control mid-flight. The plane carried two hydrogen bombs,

each 250 times more powerful than the bomb dropped on Hiroshima. Both were

accidentally released over Goldsboro, North Carolina. Both started their firing

sequences. One lodged deep in a muddy field, stopping the detonation process. The

other only failed to detonate because a single safety switch malfunctioned.

The historical record thus demonstrates that an omission thankfully took place

in North Carolina—the omission of a catastrophic thermonuclear event. That

omission had a pronounced effect within the state: Rather than suffering a cataclysm,

the state enjoyed an ordinary day.

In this case, Zync, Inc. (the “Company”) relies on an omission to assert personal

jurisdiction over a nonresident defendant. The Company was a startup in the

automotive industry. Needing capital, it secured an investment from a subsidiary of

Porsche AG. In the resulting transaction, Porsche gained the right to appoint a

member of the Company’s board of directors (the “Porsche Director”). Under a

governance agreement, the Company agreed not to take specified actions without the

affirmative vote of the Porsche Director.

When the Company later needed more capital, the Company’s CEO negotiated

a term sheet for a preferred stock financing led by a venture capital firm (the “VC

Financing”). The VC Financing could not move forward without the Porsche

Director’s approval. The Porsche Director, however, refused to give his approval without instructions from Ulrich Thiem, his superior at Porsche. Thiem never signed

off, and the Porsche Director never gave his approval. The VC Financing fell through.

With the Company’s need for capital becoming more acute, the Company’s CEO

negotiated a term sheet for an investment by a private equity firm (the “PE

Financing”). The PE Financing could not move forward without the Porsche Director’s

approval, and he refused to give it without instructions from Thiem. Thiem never

signed off, and the Porsche Director never gave his approval. The PE Financing fell

through.

Unable to fund its operations, the Company shut down. In this action, the

Company has sued the Porsche Director, the two Porsche affiliates responsible for the

investment, and Thiem. The Company contends that Thiem aided and abetted the

Porsche Director’s breaches of fiduciary duty and tortiously interfered with the VC

Financing and the PE Financing.

Thiem has moved for dismissal, asserting that the court cannot exercise

jurisdiction over him. In response, the Company invokes the conspiracy theory of

jurisdiction. That theory combines the statutory and constitutional requirements for

personal jurisdiction under Delaware’s Long-Arm Statute1 into a single, five-element

rubric. Two elements address the statutory dimension. Two elements address the

constitutional dimension. One element relates to both.

1 10 Del. C. § 3104.

2 The Long-Arm Statute authorizes the exercise of personal jurisdiction over a

nonresident “who in person or through an agent . . . [c]auses tortious injury in the

State by an act or omission in this State.”2

After failing to point to an act that allegedly caused injury in Delaware, the

Company turned to the concept of an omission. According to the Company, but for the

defendants’ actions, the VC Financing or the PE Financing would have closed. Each

would have required a filing with the Delaware Secretary of State, such as a

certificate of designation for preferred stock. That filing would have constituted a

Delaware act sufficient to support personal jurisdiction over an aider-and-abettor like

Thiem. But because the defendants blocked both financings, the Delaware act never

occurred.

A thermonuclear explosion and a filing with the Secretary of State have

dramatically different effects, but both are discernable. Likewise, the omission of a

thermonuclear explosion and the omission of a Secretary of State filing are

dramatically different in their relative significance, but both have discernable effects

measurable by the absence of what otherwise would have occurred. The Company

maintains that the defendants’ actions in preventing a filing with the Secretary of

State resulted in an omission in Delaware sufficient to subject Thiem to jurisdiction

here.

2 Id. § 3104(c)(3).

3 That type of loosely associated omission is not enough. To support personal

jurisdiction, the omission must either be part of the cause of action or have a

sufficiently close nexus to the tortious injury. The omitted filing with the Delaware

Secretary of State clears neither hurdle.

The court cannot exercise personal jurisdiction over Thiem. His motion for

dismissal is granted.

I. FACTUAL BACKGROUND

The facts are drawn from the complaint, the documents it incorporates by

reference, and the materials submitted by the parties in connection with their

motions.3 At this procedural stage, the court must credit the complaint’s well-pled

allegations and draw all reasonable inferences in the plaintiff’s favor.

A. The Company And The Porsche Note.

Before its demise, the Company offered a cloud-based platform that provided

video streaming, on-demand content, and other experiences for in-vehicle

entertainment. Rana Sobhany founded the Company in 2020 and served both as its

CEO and as a member of its board of directors (the “Board”).

The Company sought a strategic partnership that would provide capital and a

path to commercialization. The Company’s technology attracted attention from

Porsche AG, Mercedes-Benz AG, BMW, and other luxury manufacturers.

3 Citations in the form “Compl. ¶ ___” refer to paragraphs of the amended

complaint, which is the operative pleading. Dkt. 14. Citations in the form “OB Ex. ___ at ___” refer to exhibits defendants filed in support of their motion. Dkt. 20.

4 Porsche has an investment arm that backs promising technology startups. The

entities in the investment arm include Porsche Investments S.A. (“Porsche

Investments”) and Porsche Digital, Inc. (“Porsche Digital”).4 Porsche Investments

manages all of Porsche’s investments in startups and venture capital funds. Porsche

Digital identifies strategic investments for Porsche Investments. Distinguishing

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