The Delaware Court of Chancery on Wednesday dismissed a fraud claim stemming from a company’s 2014 purchase of Investopedia, saying the allegation was based on statements it did not contractually rely on when entering the $90 million deal.
While Chancellor Andre Bouchard left intact most of IAC Search’s claims against seller ValueClick Inc., he nixed the “most significant” claim in the suit, which would have opened the door to recovering damages beyond the $8 million indemnification cap in the parties’ purchase agreement.
