In 2010, Seller was an integrated design and manufacturing company specializing in the development, production, installation, repair, and servicing of heavy equipment for use by offshore energy companies in the Gulf Coast region. Seller was founded in 2002 and employed…
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Israeli pharma buyer’s fraud claim against seller of Mexican pharma company tossed out by court
In 2015, Buyer, an Israeli pharma company purchased Target, a Mexican pharmaceutical company, from Sellers, and the intellectual property used by Target from a Sellers affiliate. The total sale price came to $2.3 Billion. After the closing, Buyer claimed that…
Signing closing documents before closing acquisition results in costly litigation
In 2016, the parties negotiated a stock purchase agreement by which Seller would sell Target, a car dealership, to Buyers and another colleague in two phases. First, Buyers and their colleague were to purchase 21% of Target for $500,000 cash.…
Buyer of business strikes out after protracted litigation trying to recover lost profit damages from seller
Buyer wanted to enter the annual $5 billion revenue back-to-school season market for the sale of school supplies. Since Buyer needed inventory, licenses, and retailer relationships to get the ball rolling, it decided to buy the stationery division at Seller,…
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