Skadden won a summary judgment victory for Terumo Americas Holding, Inc. in a federal court lawsuit arising out of its acquisition of Harvest Technologies, Inc. The seller's representative filed claims seeking more than $35 million in post-closing earnout milestone payments, arguing that Terumo purportedly failed to use commercially reasonable efforts to effectuate and fund a clinical trial on which certain milestones were based. The court granted summary judgment in favor of Terumo on all claims, rejecting the sellers' representative's breach of contract claims.
BACK TO TOP