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
Employment litigation settlement agreements often include a mutually negotiated “no-rehire” provis...
Read More >
On October 10, 2019, California Governor Gavin Newsom signed into law California Assembly Bill 51 (“...
Read More >
ERISA plan administrators are constantly pressured by claimants to render decisions quickly…. This ...
Read More >
To assist you in preparing for potential impact to your workplace and employees from the Coronavirus...
Read More >
As coronavirus disease 2019 (COVID-19) continues to spread, employers have been trying to strike a b...
Read More >
The annual increases to the compensation limits applying to certain UK employment claims have now be...
Read More >