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Fraud carve out saves buyer in “as-is where-is” in divestiture

Seller manufactures over-the-counter pharmaceutical products. On June 17, 2016, it sold one of its product lines to Buyer. The terms of that sale were memorialized in an asset purchase agreement. At the time of the sale, there was a class action suit

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A buyer of a business can sue a seller for fraud in an “as is where is” deal

Occasionally, a buyer of a business wants a company so badly that the buyer will agree to an “as is where is” deal. That is, a deal where seller makes no or few representations and warranties about seller’s business. In

Posted in "as is where is", fraud in business sale

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