Cyveillance Investors Sue QinetiQ In $40M Contract Fight

Law360, Wilmington (August 29, 2011, 5:23 PM EDT) -- Former shareholders of Cyveillance Inc. sued QinetiQ North America Operations LLC on Monday in Delaware, saying the cyber intelligence firm failed to share its government clients as promised under a merger agreement, shortchanging the investors by as much as $40 million.

In 2009, QNA won over Cyveillance on the $40 million deal with repeated assurances that it would connect its acquisition target with QNA’s roster of customers in the intelligence community, with Cyveillance investors to share in the spoils through earn-out payments based on revenues over...
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