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Expert Analysis

Merger Or Acquisition? Beware The Wrong Description

By Jillian Thornton Flax (June 25, 2018, 4:31 PM EDT) -- On April 5, the U.S. Court of Appeals for the Eighth Circuit wiped out a jury verdict in a products liability action and a $13 million punitive damages award against a manufacturer and its wholly owned subsidiary on the basis that the parent company manufacturer could assert a successor liability defense. The Eighth Circuit ruling, which rightfully reinforced the bedrock principle that parent companies are not responsible for the liabilities of their subsidiaries, provides some valuable lessons for corporations that acquire other companies with potential (or known) liabilities....

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