Millennium To Pay $15M Over Asset Purchase Deals

Law360, New York (September 20, 2010, 5:50 PM EDT) -- A Delaware judge has ruled that Millennium Digital Media Systems LLC must pay $14.8 million in damages for allegedly breaching no-solicitation provisions of asset purchase agreements with broadband cable operator WaveDivision Holdings LLC.

Vice Chancellor Leo E. Strine of the Delaware Chancery Court ruled in a post-trial opinion Friday that Millennium had breached the no-solicitation provisions and provisions requiring it to use its best efforts to obtain its lenders' approval for the sale to Wave.

“The signing of the agreements with Wave ... did nothing to...
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