Energy Software Co. Beats Fraud Suit Over Stock-Swap Deal

Law360 (January 30, 2020, 7:57 PM EST) -- A Delaware federal judge on Wednesday handed C3 Inc. a win in a lawsuit alleging that the energy-management software company cheated investors out of tens of millions of dollars when it acquired rival Efficiency 2.0 LLC in a 2012 stock-swap deal.

In a 53-page judgment, U.S. District Judge Colm F. Connolly rejected E2.0 investors' arguments that C3 and its top brass misrepresented the value and success of the company and acted in bad faith, in breach of their agreement, by firing E2.0 employees and shutting down its E2.0 unit after the merger.

The judge pointed to multiple internal emails before the deal...

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