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BUYER OF SEARS ASSETS IN 2019 ACQUISITION NOT RESPONSIBLE FOR SEARS’ 2015 CUSTOMER WARRANTY LAWSUIT

The buyer, in the asset purchase agreement, assumed warranty obligations owed to pre-closing sales made to Sears customers, except for customer claims made prior to the closing date. M&A Stories October 10, 2022 Introduction In 2019, the buyer of Sears

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SELLER LIABLE FOR ILLEGAL BILLING PRACTICES IN WASTE CONTROL BUSINESS SALE

The waste control business seller had represented and warranted that it lawfully operated its business. The court held that the seller’s unlawful billing practices damaged the buyer because the revenue derived from those could not be replicated post-closing. M&A Stories

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