Tech Co. Didn't Flout Exclusivity In Citigroup Sale, Judge Says

Law360, New York (March 20, 2012, 8:02 PM EDT) -- A New York federal judge has tossed a suit alleging Ness Technologies Inc. breached an exclusivity contract with private equity firm Vector Capital Corp., ruling Friday that Ness properly negotiated a $307 million sale to a Citigroup Inc. unit after the end of Vector's exclusive negotiating window.

U.S. District Judge P. Kevin Castel accepted Tel Aviv, Israel-based information technology company Ness' argument that it negotiated with Vector in good faith, ruling that the private equity firm failed to state a claim for relief in alleging Ness...
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