New York, NY, September 17, 2011 --(PR.com
)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, brings together the world's leading authorities and industry participants through informative two -hour webcasts. It has scheduled a live webcast entitled: “Avoiding Oral Breach Claims Arising From M&A Discussions Live Webcast.” This two-hour event is scheduled on October 17, 2011 from 3:00pm to 4:00pm (ET).
M&A negotiators typically assume that, unless and until they sign a definitive acquisition agreement, either side is free to walk away from discussions at any time. Negotiators will often sign a letter of intent in the early stages of discussions specifically stating that the parties are only discussing a possible transaction and that none of them has any obligation to try to close the deal unless they sign a formal transaction agreement. However, a March, 2010 case in Georgia demonstrates how easily such an assumption can be upended. This case, Turner Broadcasting System, Inc. v. McDavid, resulted in a damage award of $281 million against Turner Broadcasting System based on its breach of an alleged oral contract formed during the negotiation process. The jury reached this decision even though (i) no definitive agreement was ever signed, and (ii) the parties had signed a letter of intent stating that neither party would be bound unless a definitive agreement was signed. This case serves as a warning to deal practitioners to watch carefully what they say and do during negotiations.
Lee J. Potter, Jr., Partner, Duane Morris LLP
Oscar A. David, Chair, Mergers & Acquisitions/Securities/Corporate Governance, Winston & Strawn LLP
For an updated list of the faculty panel, please visit: http://www.knowledgecongress.org/event_2011_Oral_Breach_Claims.html
Register for this event:
**Avail $25 discount by applying fon4938 on the second page of the registration form when you register for this event.
About The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series
The Knowledge Congress is a series of live webcasts produced by The Knowledge Group, LLC, which examine trends, regulatory, and technology changes across a variety of industries.
The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series