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AMERICAN HEALTHCARE ADMIN. v. AIZEN

C.A. No. 2019-0793-JTL.

285 A.3d 461 (2022)

AMERICAN HEALTHCARE ADMINISTRATIVE SERVICES, INC., AHAS Holdings, Inc., Christine Schaffer, Christine Schaffer Revocable Living Trust, Grover Lee, Grover Lee Revocable Living Trust, Charles E. Lee, Charles E. Lee Living Trust, Jacqueline C. Lee, Jacqueline C. Lee Living Trust, Charles E. Lee 2012 Trust No. 1, Charles E. Lee 2012 Trust No. 2, Jacqueline Lee 2012 Trust No. 1, and Jacqueline Lee 2012 Trust No. 2, Plaintiffs/Counterclaim-Defendants, v. Lance AIZEN, Defendant/Counterclaim-Plaintiff.

Court of Chancery of Delaware.

Date Decided: November 18, 2022.

Attorney(s) appearing for the Case

Thomas W. Briggs, Jr. , Sabrina M. Hendershot , MORRIS, NICHOLS, ARSHT & TUNNELL LLP, Wilmington, Delaware; Christopher R. Rodriguez , Andrew D. Bluth , SINGLETON SCHREIBER, LLP, Sacramento, California; Attorneys for Plaintiffs/Counterclaim-Defendants.

Paul D. Brown , Joseph B. Cicero , Gregory E. Stuhlman , Aidan T. Hamilton , CHIPMAN BROWN CICERO & COLE, LLP, Wilmington, Delaware; Attorneys for Defendant/Counterclaim-Plaintiff.

OPINION

A corporation sold assets to a buyer. The buyer placed a portion of the consideration in escrow to fund any purchase price adjustment and to secure indemnification obligations. The asset purchase agreement appointed the corporation's former CEO as the sellers' representative for purposes of making decisions about the...

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