CORRECTED: Fraud Claims Over Iron Data Sale Can Proceed

Law360, New York (May 20, 2013, 9:22 PM EDT) -- A Delaware Chancery judge ruled May 17 that fraud claims against the former management of Iron Data Solutions LLC can proceed in a suit claiming the company's value was exaggerated when it was sold to Iron Acquisition Co. and Indigo Holdings in 2011 for $175 million. 

The buyers, which are holding up $10 million from the transaction in escrow, have accused Iron Data's former management of defrauding them in the deal by misrepresenting the company's relationship with Lockheed Martin and the U.S. Social Security Administration....
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