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In what appears to be the first lawsuit to use the Sept. 11 terrorist attacks as a rationale for ending a merger, USA Networks is asking the Delaware Court of Chancery to void its acquisition of National Leisure Group on the grounds the incident has altered the economics of the agreement. Legal experts said the suit could establish a precedent for what types of events a "material adverse change" clause covers.
October 05, 2001 at 12:00 AM
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The original version of this story was published on Law.Com
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