Chancery Keeps Claims In Play Over $314M Fertilizer Deal

Law360 (January 29, 2020, 6:04 PM EST) -- A Delaware vice chancellor let stand some direct claims asserted by an investor against a fertilizer manufacturer in a suit that challenges its $314 million acquisition of another company, ruling Wednesday it was "reasonably conceivable" the company's managers engaged in fraud when soliciting funds for the purchase.

In a 44-page memorandum opinion, Vice Chancellor Sam Glasscock III said that the suit filed by investors MKE Holdings Ltd. and David W. Bergevin against Verdesian Life Sciences LLC and certain of its unitholders has alleged enough to survive a motion to dismiss certain direct claims.

In September, Vice Chancellor Glasscock had tossed the suit's...

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