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Representations and Warranties

Cooley LLP

What is a Disclosure Schedule, and Why Do I Need to Prepare One?

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When a company receives a venture investment, or is acquired, it typically must prepare a “disclosure schedule” (also sometimes called a “schedule of exceptions” or “disclosure letter”). This article addresses common client...more

PilieroMazza PLLC

Managing Litigation Risk During the Business Lifecycle, Part 8: Representations, Warranties, and Post-Sale Disputes

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Representations and warranties are the backbone of risk allocation in any transaction. While due diligence and valuation models often drive the economic terms of a deal, representations and warranties determine how risk is...more

Bradley Arant Boult Cummings LLP

Beyond Boilerplate: Making IP Warranties Work in Tech Transactions

If you’ve spent time in the trenches of a tech deal (as a buyer, a seller, or an advisor), you know that intellectual property (IP) representations and warranties can be a minefield. They look simple on the surface: The...more

Blake, Cassels & Graydon LLP

Tendances en matière de déclarations et de garanties dans les conventions d’achat de biens immobiliers

Depuis le début de la pandémie de COVID-19, de plus en plus d’éléments que l’on trouve couramment dans des opérations de fusion et acquisition (« F&A ») sont intégrés aux opérations immobilières. En raison des perturbations...more

Blake, Cassels & Graydon LLP

Redefining Real Estate Deals: Trends in Representations and Warranties in Purchase Agreements

Since the onset of the COVID-19 pandemic, real estate transactions have increasingly adopted concepts traditionally seen in merger and acquisition (M&A) transactions. The disruption and uncertainty prompted parties to pay...more

Orrick, Herrington & Sutcliffe LLP

Fannie Mae Updates Selling Guide, Removes Minimum Credit Score for Loans Using Desktop Underwriter

On November 5, Fannie Mae announced updates to its Selling Guide, including the removal of minimum credit score requirements for loans underwritten through its automated system —“Desktop Underwriter” (DU) — effective for loan...more

Herbert Smith Freehills Kramer

Re Mayne Pharma Group Ltd [2025] NSWSC 1204

The judgment clarifies key principles around Material Adverse Change (MAC) clauses, forecast disclaimers, and termination rights. On 15 October 2025, the NSW Supreme Court found that US pharmaceutical company, Cosette...more

Goodwin

Undisclosed Liability Claims Have Doubled Since 2022, Creating New Risks for M&A

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Undisclosed liability claims in M&A have more than doubled since 2022. They now account for 24% of all breach of representations and warranties (R&W) indemnification claims and are one of the most significant post-closing...more

Cadwalader, Wickersham & Taft LLP

Seeing Red Flags in Tricolor: A Colorful Lesson on Collateral Interests

Tricolor Situation Overview - Tricolor Auto Acceptance, LLC (“Tricolor”), founded in 2007, is a “buy here-pay here” (“BHPH”) subprime auto finance company. This means that it is both an auto dealer and an auto finance...more

Lowndes

Warranties to Request When Purchasing Loan Documents

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This article is the fourth in a multi-part series based on the Lowndes white paper, “Selling & Acquiring Distressed Real Estate in Florida.” Each installment will examine key legal and strategic considerations for acquiring...more

Cooley LLP

Convertible Notes in Southeast Asia and India: Key Risks and Considerations for Founders

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A convertible note is a form of short-term debt that converts into equity, typically in conjunction with a future financing round. This instrument allows startups to raise capital quickly without having to determine a...more

Secretariat

Post-M&A Headaches – When the Numbers Don’t Add Up Post Closing

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The ink is dry, the deal is closed, and the integration roadmap is underway. But for many acquirers, the honeymoon phase of a merger or acquisition ends abruptly when post-closing financials begin to diverge from...more

Orrick, Herrington & Sutcliffe LLP

Part 2: #Start-up M&A: The (Not-So-Fun) Exit - Distressed M&A in Start-up Land | Legal Ninja Snapshot

When start-ups dream of an exit, they picture ringing the bell at an IPO or celebrating a headline-grabbing acquisition. But what happens when the journey takes a detour through the valley of distress?...more

Mayer Brown

Delaware Law Alert: What to Keep in Mind for Your Next Purchase Price Adjustment Provision

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Deal parties often opt to delegate purchase price adjustment (“PPA”) disputes to an accounting expert in the belief that such private proceedings will avoid the involvement of courts and related expenses. A recent Delaware...more

Haynes Boone

Real Estate Insights - July 2025

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Haynes Boone’s Real Estate Practice Group is excited to introduce the summer edition of HB Real Estate Insights. We hope you enjoy this read....more

Skadden, Arps, Slate, Meagher & Flom LLP

Delaware Rulings on Ambiguity, Materiality and Damages in M&A Indemnification Provisions Highlight the Importance of Careful...

Delaware courts are frequently called upon to interpret indemnification provisions linked to representations and warranties, which serve as potential remedies for losses, dictating when and how one party must make whole the...more

Whiteford

Private Company M&A - Reverse Diligence: Questions Sellers Should Ask of Bidders

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When selling a private company, Sellers understandably focus on providing bidders with a comprehensive data room packed with detailed documents and information about every aspect of their business. They expect bidders to pore...more

Potomac Law Group, PLLC

NDAs with Extras: What You Didn’t Sign Up For

Anyone who has had even passing exposure to technology companies has dealt with Non-Disclosure Agreements (commonly referred to as "NDAs" in high-tech companies but "CDAs" in pharma/biotech to distinguish them from the other...more

Blake, Cassels & Graydon LLP

Five Critical Considerations in Real Estate Purchase Agreements

Recent trends in Canadian real estate transactions reveal evolving negotiation practices and shifting approaches to risk, regulation and due diligence....more

Freeman Law

Is it Really Over? Contract Provisions that Survive Termination and Why.

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Just like many relationships, not all parts of a contract become things of the past when they expire or terminate. One way to ensure that a contractual right or duty applies post-termination is to specify that will it...more

Morris James LLP

Court of Chancery Endorses Default Pro-Sandbagging Stance in Representation and Warranty Litigation

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In the M&A context, the term “sandbagging” refers to one party asserting a claim based on a representation made in connection with the transaction despite knowing or having had reason to know pre-closing that the...more

PilieroMazza PLLC

Managing Litigation Risk During the Business Lifecycle, Part 2: Business Acquisition and Post-Closing Disputes

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There’s a tongue-in-cheek joke within the legal industry that transactional lawyers create the problems, and the litigators get paid to clean them up. It’s a cautionary reminder to transactional lawyers: if the dealmaking...more

Mayer Brown

Navigating M&A Transactions Amidst Trump’s Tariffs: Five Key Legal Issues to Consider in Today’s Market

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The introduction of tariffs under the Trump Administration—and their subsequent partial (yet perhaps temporary) rollback—has added a new layer of complexity and a great deal of uncertainty to the high-stakes world of M&A...more

BakerHostetler

Methods To Allocate Tariff-Related Risks in M&A Agreements

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Buyers and sellers that are parties to an M&A transaction should carefully consider whether the risks associated with tariffs that have already been imposed or that may be imposed in the future may significantly impact the...more

Allen Barron, Inc.

Prepare Your Business for Sale or Acquisition

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If you intend to sell your company or believe there may be another business or individual interested in acquiring you, it is important to prepare your business for sale or acquisition to make sure everything is in order. This...more

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