The Delaware Court of Chancery, in Neurvana Medical, LLC v. Balt USA, LLC, et al., C.A. No. 2019-0034-KSJM, memo. op. (Del. Ch. Feb. 27, 2020), dismisses a claim by the seller of a medical device that buyer failed to use Commercially Reasonable Efforts to secure regulatory approval that would trigger earn-out payments.
NEW: Morris James discusses the decision in Post-Closing Earn-Out Claims Dismissed, But Fiduciary Duty Claims Against Former Director Survive.
$$$ Law360 discusses the decision in Chancery Tosses Most Of Medical Device Co.’s Sabotage Suit.