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Sellers of company receiving stock of buyer could not sue buyer’s owners for federal securities fraud omissions committed during negotiation

This dispute stems from a written purchase agreement between Sellers and Buyer. Under this agreement, Sellers sold their interest in their technology consulting company, Target, to Buyer. In the summer of 2012, Sellers began marketing their company for sale. Shortly

Posted in anti-reliance clause, fraud in business sale, full disclosure rep, reliance

Buyer of business can’t stop release of escrowed funds to seller, because buyer did not follow the escrow agreement’s notice provision

Seller held a number of consumer debt accounts in Puerto Rico. Seller first approached Buyer about a possible sale of Seller’s debt accounts sometime in 2013 and, later that year, the parties entered into discussions. The accounts consisted of auto loans,

Posted in escrow, fraud in business sale, notice provision, reliance

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