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 Massachusetts Supreme Judicial Court (SJC), the Commonwealth’s highest court, recently clarifie...
Read More >
Q: A product is missing, and I want to put up surveillance - can I do that? A: Yes, you can put up ...
Read More >
The U.S. Equal Employment Opportunity Commission (“EEOC”) recently announced that its 2019 EEO-1 C...
Read More >
Frequency of M&A disputes - Despite a slowdown in activity from the second half of 2018 caused by ...
Read More >
The US Department of Homeland Security (DHS) on November 1 extended the validity of Temporary Protec...
Read More >
Over the past several weeks, the novel coronavirus (COVID-19) has upended the marketplace and impose...
Read More >