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SIGA Technologies Inc. Message Board

  • spacenukes spacenukes May 24, 2013 11:23 PM Flag

    Executive Summary From Ruling

    The ruling can be found on Bloomberg - you have to find your way to press releases.....

    A Delaware corporation appeals from the Vice Chancellor’s finding that it
    breached a contractual obligation to negotiate in good faith and is liable under the
    doctrine of promissory estoppel. We reaffirm that where parties agree to negotiate
    in good faith in accordance with a term sheet, that obligation to negotiate in good
    faith is enforceable. Where a trial judge makes a factual finding, supported by the
    record, that the parties would have reached an agreement but for the defendant’s
    bad faith negotiation, we hold that a trial judge may award expectation damages.
    We reverse the Vice Chancellor’s promissory estoppel holding because a promise
    expressed in a fully enforceable contract cannot give rise to a promissory estoppel
    claim. We also reverse the Vice Chancellor’s equitable damages award based on
    his factual conclusion that the parties would have reached an agreement, so that he
    may reconsider the award in light of this opinion.

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    • So they basically are giving the Judge another chance to NOT screw it up. He won't.
      I'm sure bottles of champagne were corked in the chamber.
      "Don't mix the booze with powders you crazy judges....just ask your doctor pharmaceutical friends, they'll tell you"..............!!! Happy Memorial Day!

2.460.00(0.00%)Mar 13 4:00 PMEDT