Kixeye shareholders have filed a lawsuit against Stillfront Group over $30 million in a disputed earnout payment related to its acquisition.
Fortis Advisors, a seller representative acting on behalf of Kixeye’s shareholders, filed the lawsuit today in Delaware’s Chancery Court. In it, Kixeye alleges that Stillfront deliberately breached a merger agreement over a $30 million “earnout,” or a bonus to be paid if Kixeye hit certain milestones. The lawsuit gives a window into normally private negotiations between companies.
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