In this post-closing lawsuit, Unions comprised four jointly-managed multiemployer employee benefit plans. Seller was a Nebraska corporation which performed waterproofing, concrete and masonry restoration, and roofing services in Nebraska and the Midwest. Buyer was also a Nebraska corporation, performing commercial…
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Court permits business asset buyer’s product liability carrier to sue the seller for indemnification
This lawsuit stems from a dispute over an April 9, 2012 asset purchase agreement between the buyer and seller. Pursuant to the agreement, the buyer purchased a set of assets from the seller, including the design of the seller’s exercise equipment. The…
A buyer of a government contractor’s business incurs $15.5 million liability to seller for failing to disclose a pending government investigation
The seller was a government contractor that provided services to U.S. intelligence agencies. Its investment bank introduced the seller to the buyer, a government contractor specializing in strategic planning, cost and schedule analysis, acquisition management, and program assessment. The buyer…
Seller of business learns lesson about risks in an earn out
Today I want to talk about a seller of a business who learns how buyer’s problems can hurt his chances of receiving an earn out. Our story is drawn from a case that was tried before the nation’s oldest business…
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