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Home / Opinion Digests / Business Law / Stock Buyer’s ‘Due Diligence’ Supports Fraud Claim (access required)

Stock Buyer’s ‘Due Diligence’ Supports Fraud Claim (access required)

An Alexandria U.S. District Court says plaintiffs who contracted to sell over 1 million shares of stock in Mediatech, a Virginia-based biotech company, but who later blamed misrepresentations by defendant buyer for their agreement to a sale price of $4 per share instead of the “actual value” of $10 per share, can sue for rescission ...

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