Thermo Fisher In $4M Suit For Alleged Post-Merger Scam

Law360, New York (July 3, 2013, 6:48 PM EDT) -- Lab supply giant Thermo Fisher Scientific Inc. was hit in Delaware federal court Wednesday with a $4 million suit claiming the company prevented shareholders from receiving performance-based bonus payments following its acquisition of NovaWave Technologies Inc.

According to the complaint filed by NovaWave shareholder James Scherer, Thermo Fisher knowingly misrepresented its willingness and ability to bring NovaWave products to market and subsequently achieve up to $4 million of revenue bonuses. Once the merger was completed, Thermo Fisher immediately began undermining the distribution of NovaWave's sensor products,...
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