KeyBank Gets Partial Early Win In Merger Contract Row

By Emilie Ruscoe (October 2, 2020, 11:43 PM EDT) -- A Massachusetts federal judge handed KeyBank a partial early win in a breach of contract suit alleging it failed to pay early termination payments to digital banking services provider ACI Worldwide, after KeyBank acquired a bank that had contracted with ACI and then decommissioned it.

In a Sept. 30 order, U.S. District Judge Indira Talwani affirmed the recommendations U.S. Magistrate Judge Jennifer C. Boal made in February. In her pretrial report, Judge Boal said KeyBank's partial summary judgment bid should be granted, dismissing ACI's claims of fraud, conspiracy and breach of contract with respect to both confidentiality and continued use. ACI's suit...

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