Mass. Top Court Saves $1M Verdict Over Deal To Buy IBM Unit

Law360 (March 5, 2020, 9:53 PM EST) -- Massachusetts’ top appellate court on Thursday reinstated a nearly $1 million jury verdict in favor of a consulting firm over a soured contract to finance the acquisition of an IBM unit, ruling that the contract was enforceable even though the firm wasn't registered as a securities broker-dealer.

In a unanimous opinion, the state Supreme Judicial Court reinstated NTV Management Inc.'s jury trial victory over Lightship Global Ventures LLC stemming from the companies' ill-fated partnership to finance a deal for Salary.com. The court rejected Lightship's argument that the contract required a securities transaction and was therefore invalid and unenforceable because NTV had not registered...

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