Kixeye shareholders sue Stillfront for $30M over earnout dispute

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.