Publication Date: 2022-10-18
Practice Area: Mergers and Acquisitions
Industry: Consumer Products
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Stephen C. Norman, Matthew F. Davis, Tyler J. Leavengood, Potter Anderson & Corroon LLP, Wilmington, DE; Elizabeth B. McCallum, Gilbert S. Keteltas, Carey S. Busen, Evan M. Mannering, Baker & Hostetler, LLP, Washington, D.C.; Jim W. Phillips, Jr., Kimberly M. Marston, Brooks, Pierce, McLendon, Humphrey & Leonard, LLP, Greensboro, NC; Charles E. Coble, Brooks, Pierce, McLendon, Humphrey & Leonard, LLP, Raleigh, NC for plaintiff.
for defendant: Gregory P. Williams, Rudolf Koch, Robert L. Burns; Matthew D. Perri, Richards, Layton & Finger, P.A., Wilmington, DE; Noel J. Francisco, C. Kevin Marshall, William D. Coglianese, Jones Day, Washington, D.C.; Stephanie E. Parker, Katrina L.S. Caseldine, Jones Day, Atlanta, GA; David B. Alden, Kevin P. Riddles, Jones Day, Cleveland, OH; Elli Leibenstein, Greenberg Traurig, LLP, Chicago, IL; Stephen L. Saxl, Greenberg Traurig, LLP, New York, NY; Andrea Shwayri Ferraro, Greenberg Traurig, P.A., West Palm Beach, FL for defendants.
Case Number: 2017-0129-LWW
Judgment to recover unpaid settlement payments under settlement agreement with state government constituted an assumed liability under parties' asset purchase agreement where the settlement payments were based on buyer's sales of acquired cigarette brands in the state.