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Home / Opinion Digests / Contract / Contract – Business Acquisition – Tort/Negligence – Fraud – Purchase Debt Payments – LLC Distributions (access required)

Contract – Business Acquisition – Tort/Negligence – Fraud – Purchase Debt Payments – LLC Distributions (access required)

An acquisition transaction left the plaintiff-sellers owning 20 percent and the defendant-buyers owning 80 percent of a new LLC, with the new LLC responsible for paying the purchase price. Plaintiffs have stated a claim for fraud based on allegations that defendant represented that the payments would be “below the line,” so plaintiffs wouldn’t be paying ...

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