A federal judge in the Southern District of Georgia has denied a motion to dismiss filed by former board members of HySky Technologies, Inc. Taft represents HySky in this litigation matter. The ruling allows HySky’s lawsuit seeking declaratory judgment over disputed company shares to move forward.

The case centers on a series of Restricted Stock Purchase Agreements between HySky and defendants Rhodric Hackman and Niles Chura, both of whom were ex-directors. The agreements set funding “Mileposts” that determined when unvested shares held by the defendants would vest or otherwise be repurchased by the company. After HySky failed to meet a funding milestone by June 30, 2023, the company exercised its contractual option to repurchase all unvested shares, notified the defendants, and removed them from its board.

The defendants argued the lawsuit was premature, contending that 65% of the shares remained subject to future vesting conditions and that the court could not issue a decision covering the entire controversy. However, the court found HySky had properly alleged that all unvested shares were repurchased and the agreements terminated following the missed milestone, making the case suitable for adjudication.

The Aug. 14, 2025, order means HySky’s effort to confirm its stock repurchase and sever all shareholder ties with the former directors will receive full consideration in federal court. The Taft team includes Chicago partners and lead trial counsel Todd Rowden and James Oakley and associate Michael Mayerck.