Telecom Co. Asks 11th Circ. To Nix Deal Over $9M Merger

Law360, New York (October 20, 2017, 4:18 PM EDT) -- Peerless Network Inc. asked the Eleventh Circuit to reverse a ruling enforcing an agreement between it and a rival telecommunications firm over a botched acquisition deal worth $9 million, saying the judgment shouldn't have been enforced before discovery.

In its opening appeal brief on Wednesday, Peerless argued that a Florida district court had wrongfully found that portions of email exchanges between it and Blitz Telecom Consulting LLC constitute an “enforceable settlement agreement” despite simultaneously referencing future negotiations and conduct that indicated negotiations would continue.

Moreover, the company accused the district court of abusing its discretion by neglecting to hold an evidentiary...

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