When Bartle & Marcus was founded in 2005, our first client was a successful agent who had sold his agency to a New York-based corporate conglomerate and was locked in a dispute over his earn out. The buyer claimed our client was a “bad actor” who engaged in questionable business practices prior to the sale and had hidden them from the buyer’s auditors during due diligence. We saw the dispute for what it was: A corporate bully with “buyer’s remorse” trying to strong-arm its way out of a deal it didn’t like. We fought back. On behalf of our client, we sued to recover the amounts remaining due under the purchase agreement. Following a week-long arbitration hearing, our client received a monetary award in his favor. The corporate bully got nothing.
Not every agency sale/acquisition will end the way this one did. But some will. More often than not, the buyer is entering an industry it knows little or nothing about, hoping to piggy-back on the success of its acquisition target. When these hopes aren’t immediately realized, the buyer may look to place the blame at your feet. It may stop making required payments or, worse yet, look to recover amounts already paid.
Or maybe the dispute is more basic. Maybe the dispute concerns the language in the purchase agreement. You think it means one thing; the buyer thinks it means something else. The difference is worth millions of dollars. You’d like to work it out, but the buyer won’t budge. Now the parties aren’t talking, and the lawyers have gotten involved.
When these disputes happen, you need an experienced trial attorney on your side. You need someone who can push back when you begin to feel you’re being pushed around. Let us put our experience to work for you.