The issue raised by this Motion for Summary Judgment is whether the transfer of a controlling block of shares in defendant Datatel, Inc. constitute a “Sale Transaction” within the meaning of a contract, which required defendant Datatel, Inc. to pay Plaintiff ThinkEquity, LLC 3/4% of the sale price of the company upon the consumation of a "Sale Transaction." The motion specifically addresses the distinction, or lack thereof, between the terms "voting control" and "50% or more of the voting power" of a corporation.
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Commercial Law & Contracts Updates
Legal Memoranda: Motions for Summary Judgment/Adjudication |
Federal, 9th Circuit, California |
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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