ThinkEquity Partners, LLC v. Datatel, Inc.

ThinkEquity Partners, LLC v. Datatel, Inc.

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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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Published In: General Business Updates

Reference Info:Legal Memoranda: Motions for Summary Judgment/Adjudication | Federal, 9th Circuit, California | United States