Delaware law blocked Illinois fraud case

Trial Notebook

By Steven P. Garmisa

Hoey & Farina

Posted January 9, 2023 11:23 AM

(This is part one of a two-part series. Part two will run on Tuesday.)Applying Delaware law in a case where an investment company owned by a prominent Chicago family claims it lost hundreds of millions of dollars when it was allegedly duped into selling its 21% interest in a start-up for $9.3 million — a few years before the firm’s valuation rocketed to $1.5 billion — the Illinois Supreme Court considered whether the anti-reliance provisions in an exquisitely drafted “stock repurchase agreement …

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