Our client, a family-owned business was approached by a competitor asking if they wanted to buy some of the competitor’s assets. The competitor claimed that the United States Justice Department had ordered it to sell off certain assets so that it could merge with a third company. When the Department of Justice and a federal judge issue antitrust orders directing a Fortune 500 company to divest certain assets in a certain way, the expectation is those instructions and orders will be followed. Seeing a great opportunity to expand its market and realize its family dream, the family-owned business decided to not only invest its capital, but the family members invested themselves and their own personal fortunes to make the deal happen. Upon the completion of the contract purchasing the assets, the family business anxiously awaited the transfer of its new plant and products. Unfortunately for them, the seller refused to provide some of the assets (actually destroying some assets) and the family business and its members teetered on the edge of bankruptcy and financial ruin.
Once the Ayres Law Office took the case, we realized that the key to a successful resolution was to equalize the relative size and strength of the parties before the family-owned business collapsed using the power of the court system to stop the anti-competitive behavior.
We brought a lawsuit on behalf of the business and family members, with a streamlined strategy that focused on anti-trust issues, fraud and a well-reasoned damage model.
After a month-long trial in federal court, the family-owned business was able to procure a large settlement that gave them the assets they needed and the competition they deserved with an agreed court order prohibiting anti-competitive behavior, both of which allowed the family business and its members to get back on track accomplishing their goals.