22Dec
Delaware Court Nixes Deal Due to Seller’s Failure to Operate in “Ordinary Course” During COVID-19
The decision leaves the door open for buyers to argue that inflexible ordinary course covenants can provide a basis to terminate a transaction in which a seller does not suffer an MAE. Key Points: ..The Delaware Court of Chancery’s ruling illuminates how other courts may analyze pre-closing operational covenants following business disruptions due to the pandemic. ..The court reaffirmed the high bar to establish an MAE, holding that a carveout to an MAE definition need not expressly include...
By:
Latham & Watkins LLP
Related
The U.S. Fish and Wildlife Service issued a proposed rule on January 30, 2020, that narrowly interpr...
Read More >
New York State’s deadline for training employees on preventing sexual harassment and discrimination...
Read More >
The recent decision by the U.S. Court of Appeals for the First Circuit in the Sun Capital Partners c...
Read More >
On December 19, 2019, the Rhode Island Contractors Registration and Licensing Board’s (“CRLB”) re...
Read More >
In 2021, we bring you an overview of European competition news. In collaboration with our European o...
Read More >
Welcome to the 2019 edition of the Meritas Legal Guide for Business Investment and Expansion in Aust...
Read More >