Delaware Chancery Court awards specific performance after finding that buyer failed to demonstrate a material adverse effect or ordinary course breach by target and that buyer failed to use reasonable best efforts to obtain...more
5/26/2021
/ Acquisitions ,
Breach of Contract ,
Buyers ,
Contract Termination ,
Coronavirus/COVID-19 ,
Debt Financing ,
Lenders ,
Material Adverse Effects ,
Ordinary Course of Business Defense ,
Representations and Warranties ,
Sellers ,
Stock Purchase Agreement ,
Terms and Conditions
Delaware Court of Chancery holds that specific accounting principles in a merger agreement will govern, even though it may result in a different approach to accounting standards for determining the target’s tangible net worth...more