The Delaware Court of Chancery has ruled that cash-management system retailer Tidel Inc. misused a former subsidiary’s confidential information and violated a collaborative agreement when it developed a high-end product at a selling price above the level set by a contract between the two companies.
Vice Chancellor Donald F. Parsons Jr. sifted through the tangled two-year contract dispute in a 73-page memorandum opinion published Oct. 30 in Revolution Retail Systems LLC v. Sentinel Technologies. He found “restrictive covenants” in a securities purchase agreement between Tidel and Revolution Retail Systems LLC were enforceable under Delaware law.
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