Chancery Court—Reiterating High Bar for Proving “MAE”—Requires Buyer to Honor Its Obligations Under Acquisition Agreement
Robert S. Reder & Bailey R. Vincent | 74 Vand. L. Rev. En Banc 13 (2021) |
Akorn, rather than straying from Chancery Court precedent, reiterated that the occurrence of a circumstance worthy of an MAE is rare. In Channel Medsystems, Channel’s ability ultimately to win FDA approval of the Product, coupled with BSC’s suspect motivations and lack of good faith cooperation, rendered Boston Scientific’s MAE claim even weaker than it otherwise might have been.
AUTHORS:
Robert S. Reder and Bailey R. Vincent