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SHAREHOLDER REPRESENTATIVE v. AIRBUS

Record No. 151640.

791 S.E.2d 724 (2016)

SHAREHOLDER REPRESENTATIVE SERVICES, LLC, et al. v. AIRBUS AMERICAS, INC.

Supreme Court of Virginia.

October 27, 2016.

Attorney(s) appearing for the Case

J. Tracy Walker, IV ( Robert W. Loftin ; Matthew A. Fitzgerald ; Katherine Mims Crocker ; J. Chapman Petersen ; David L. Amos ; McGuireWoods, Richmond; Surovell, Isaacs, Petersen & Levy, Fairfax, on briefs), for appellants.

Jeff E. Butler ( David J. Gogal ; Laurie L. Kirkland ; John Alexander ; Blankingship & Keith, Fairfax; Clifford Chance US, on brief), for appellee.

Present: Lemons, C.J., Goodwyn, McClanahan, Powell, Kelsey, and McCullough, JJ., and Koontz, S.J.

OPINION BY SENIOR JUSTICE LAWRENCE L. KOONTZ, JR.

This case involves a contract dispute between the purchaser and the seller of a corporation pursuant to a corporate merger agreement. As pertinent here, the merger agreement provided for three different liability limitations ("damage caps") in the event of certain breaches by the seller. There is no dispute now that the seller breached a number of the requirements of the merger agreement. Those breaches...

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