Explore a recent M&A case where a court ruled a non-compete clause in an employment agreement unenforceable. Delve into key details, including the background, agreements, termination, legal dispute, court’s decision, severance dispute, and trade secret allegations. M&A Stories September 17,…
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Court Deems Non-Compete in M&A Employment Agreement Unenforceable
Posted in covenant not to compete, customer list, trade secret misappropriation Tagged with: asset purchase agreement, Business acquisition, business expansion, Buyer-Seller Relations, case reference, contract disputes, Court decision, Court ruling, Employment agreement, Employment law, Legal dispute, legal implications, M&A Case, M&A legal blog, Minnesota law, Non-compete Clause, non-competes in M&A, Riddle v. Geckobyte.com Inc., severance dispute, termination, trade secret allegations, trade secrets, unreasonable customer scope, unreasonable term
Key Employee’s Oral Promise Falls Short in M&A Case
Explore the legal challenges faced by a Pepperell, Massachusetts-based online retailer in retaining a key employee in this M&A tale. Delve into negotiations, oral promises, and court decisions, emphasizing the importance of formal agreements with key employees in business sales.…
Posted in key employees of target, stay bonus Tagged with: Business Sale, business sale process, conditional bonus, Court decisions, key employee, Legal Challenges, Lockwood v. Madeiros LLC, M&A Case, Massachusetts law, negotiations, oral promise, post-sale revenue growth, sales proceeds, sharing sales proceeds with key employees, stay bonus
Texas Court Narrows Reach of Noncompete Agreement in Grocery Store M&A
Explore a significant M&A case in Texas where a court restricted the geographic reach of a noncompetition covenant in the sale of Hispanic grocery stores. The buyer, owner of La Michoacana and El Ahorro chains, faced noncompete breaches, leading to…
Posted in covenant not to compete, reformation Tagged with: appellate court, breach of agreement, business goodwill, Court of Appeals of Texas First District Houston, damages, El Ahorro, geographical area, Hispanic grocery stores, Houston, Irving, La Michoacana, limitations, M&A Case, Mi Rancho, noncompete agreement, Oklahoma, Oklahoma City, Ortega v. Abel, Pasadena, Punitive damages, reasonable noncompete, scope of activity, Texas, Texas court, time
Asset Buyer Responsible for Liability of Unpurchased Seller Division
Explore the legal intricacies of M&A in our latest blog post, “Asset Buyer Responsible for Liability of Unpurchased Seller Division.” Dive into a real-life case, Intuitive Surgical Operations, Inc. v. Midbrook, LLC, that sheds light on the critical importance of…
Posted in buyer's assumption of seller liabilities in asset acquisition Tagged with: Asset Buyer Liability, Asset purchase agreements, Assumed liabilities, business contracts, Buyer Obligations, Buyer's responsibility, CFOs, Contractual obligations, creditor lawsuit, defaulted loan, entrepreneurs, excluded divisions, financial implications, Intuitive Surgical Operations Inc. v. Midbrook LLC, legal entanglements, legal foresight, Legal intricacies, Legal lessons, legal ramifications, M&A Case, M&A Transactions, Post-closing disputes, precision in drafting, wealth advisers
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