Shareholder Suit Over $45M Vocada-Nuance Merger Nixed

Law360, New York (October 01, 2013, 6:13 PM ET) -- A Texas federal judge on Monday dismissed a shareholder suit that accused Nuance Communications Inc. of conducting a fraudulent $45 million merger with Vocada Inc., ruling that a prior decision issued by an arbitration panel precluded the claim.

The dispute between the companies stems from Sunnyvale, Calif.-based Nuance's 2007 acquisition of Vocada, based in Dallas, Texas. According to court documents, Nuance acquired 100 percent of Vocada's stock in exchange for $24 million up front and for $21 million in earnout consideration over a three-year period, the...
To view the full article, register now.