CYPRESS GROUP HOLDINGS, INC. v. ONEX CORP.

7020. 653408/15.

165 A.D.3d 453 (2018)

86 N.Y.S.3d 20

2018 NY Slip Op 06687

Cypress Group Holdings, Inc., Respondent, v. Onex Corporation et al., Appellants.

Appellate Division of the Supreme Court of New York, First Department.

Decided October 9, 2018.


Plaintiff purchased nonparty Cypress Insurance Group, Inc. and its subsidiaries (Cypress) from defendants pursuant to a Stock Purchase Agreement (SPA). In the SPA, defendant Onex Corporation undertook to provide plaintiff with a Closing Date Statement setting forth Cypress's adjusted book value as of the day before the closing, and plaintiff undertook to submit a Buyer's Objection within 90 days if it disagreed with the statement. If plaintiff and Onex could not resolve their...

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