Lead Counsel for Plaintiffs in a lawsuit seeking payment of a substantial earn-out and associated bonuses pursuant to an asset purchase agreement. Our clients formed EnterSys LP, a SAP consulting company, and after years of success, sold substantially all of the assets to a UK SAP consulting company, for cash up front and potential earn-out payments. The transaction also included employment agreements for our individual clients that allowed them to earn bonuses as certain margin targets were achieved. On July 19, 2012, the trial court issued an order in response to Defendants’ Motion for Summary Judgment (the other side) holding that the earn-out calculation provision unambiguously required Defendants to include pharmaceutical related revenues in the calculation of the earn-out amount and bonuses. The ruling effectively granted Plaintiffs a summary judgment on their breach of contract claim. At that point, with only one claim left to be tried, the case settled confidentially immediately before the November 2012 trial setting.
