Claims Nixed In Suit Over Failed Stonewood Deal

Law360, New York (October 19, 2011, 2:56 PM EDT) -- A Massachusetts federal judge on Tuesday threw out contract-related claims in a suit brought by private equity firm Stonewood Capital Management Inc. against an engineering firm over a failed acquisition, ruling that most of an agreement to complete the sale was not binding.

U.S. District Judge Rya Zobel ruled that a letter of intent between Stonewood and Waltham, Mass.-based Giner Inc. was only binding in respect to the confidentiality and expenses provisions, and did not require Giner to complete the negotiations.

Stonewood alleged Giner violated the...
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