Credit: B@rmaley/Adobe Stock Lawsuit Claims Financial Company Wrongfully Withheld $7.75M Escrow
This suit was surfaced by Law.com Radar. Read the complaint here.
September 19, 2023 at 12:53 PM
1 minute read
Thompson Street Capital Partners IV LP filed a breach-of-contract lawsuit against Sonova United States Hearing Instruments on Sept. 11 in Delaware Court of Chancery. The suit, brought by Greenberg Traurig, pertains to $7.75 million worth of escrow funds set aside in connection with a merger. According to the complaint, one business day before the funds were scheduled for release, the defendant submitted an inaccurate and pretextual indemnification claim in order to block release of the funds. Counsel have not yet appeared for the defendant. The case is 2023-0922-, Thompson Street Capital Partners IV LP v. Sonova United States Hearing Instruments LLC.
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