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GLOUCESTER HOLDING CORP. v. U.S. TAPE

C.A. No. 19227.

832 A.2d 116 (2003)

GLOUCESTER HOLDING CORPORATION, Plaintiff, v. U.S. TAPE AND STICKY PRODUCTS, LLC, Defendant.

Court of Chancery of Delaware, New Castle County.

Decided: March 18, 2003.

Attorney(s) appearing for the Case

Jay W. Eisenhofer, Megan D. McIntyre, Sidney S. Liebesman, Grant & Eisenhofer, P.A., Wilmington, Delaware; David M. Schlecker, Diana R. Shafter, Anderson Kill & Olick, P.C., New York, New York; for Plaintiff.

Duane D. Werb, Werb & Sullivan, Wilmington, Delaware; David A. Brown, John Pina, III, Sherin and Lodgen LLP, Boston, Massachusetts; for Defendant.

OPINION AND ORDER

LAMB, Vice Chancellor.

I.

This action arises out of an agreement by one company to purchase substantially all of the assets of another. The buyer alleges that during the negotiations leading up to the sale, the seller failed to make several material disclosures regarding certain of the assets to be purchased. As a result of these non-disclosures, the buyer alleges that it was fraudulently induced to enter into the agreement...

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