LaPoint v. Amerisourcebergen

VERDICT

Trial
05/07/07 – 05/17/07

Summary

AmerisourceBergen had agreed to acquire Bridge Medical Inc. for an initial payment of $27 million dollars, and further agreed to an "earn-out” to be paid to former Bridge shareholders contingent upon certain EBITA [earnings before interest, tax and amortization] targets being met over a two year period. Plaintiff insist that defendant provided lukewarm support for their operations and did everything possible to avoid having to pay merger consideration contingent on the success of plaintiffs’ former firm. Defendant blames plaintiffs’ woes upon plaintiffs’ lack of long-term planning, inconsistency between plaintiffs’ strategies and actions, and an inability to cope with market changes. Plaintiffs now seek damages in response to defendant’s alleged breaches of contract.

Outcome

Chandler ordered ABC to pay plaintiffs $21 million arising from ABC's miscalculations of the earn-out.

Case Information
Attorneys
Witnesses
Plaintiff
Defense
Verdict
$21,000,000
Judge
William Chandler
Jurisdiction
Delaware Court Of Chancery
Court
Court of Chancery Courthouse
Case Number
327-C
Industry
Health care
Practice Area
Mergers and Acquisitions, Employment Law
Plaintiff
LaPoint, William
Defense
Amerisourcebergen Corporation
Expert Witnesses
Lay Witnesses

Sessions

AM Session
Plaintiff Witness(es)
3 Chapters
MAY
7
MAY
8
MAY
9
MAY
10
MAY
14
MAY
17

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