Chancery Finds Defendants Liable for Fraud Based on the Failure to Disclose Internal Billing Practices
JD Supra: Mergers
JANUARY 2, 2024
The seller’s management had been recording internal software use as revenue in its unaudited financial statements but never disclosed this practice to the buyer in the sale’s process. 2020-1000-LWW (Del. 2, 2023) - This decision arose out of the sale of the company Cloud Jumper to NetApp, Inc.
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