Mass. Top Court Saves $1M Verdict Over Deal To Buy IBM Unit
By Chris Villani (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...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!