The Delaware Court of Chancery has blocked a health care network provider from recouping a $1.8 million indemnification for an alleged material breach of contract on the part of a company it had acquired.
Vice Chancellor Donald F. Parsons Jr., in a 22-page ruling in I/Mx Information Management Solutions v. MultiPlan, denied the health care network provider's efforts to dismiss the declaratory judgment, ruling that under a stock purchase agreement, the allegations may not have risen to the level of a material breach.
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