M & A Law Prof Blog

Editor: Brian JM Quinn
Boston College Law School

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Wednesday, January 23, 2008

Finish Line's Interlocutory Appeal

Finish Line and UBS filed for an interlocutory appeal of their Tennessee action (download the appeal here ).  A few tidbits:

  • The trial date for the New York action is March 3.
  • Finish Line and UBS are invoking the April 30 expiration of the commitment letter as one reason for an expedited appeal.  This is a loser -- the court can just force UBS to postpone as before.
  • The brief hints at the two main focuses of their arguments:
    • Specific performance is an inappropriate remedy because Genesco has "unclean hands"
    • The lower court inappropriately relied on the merger agreement's disclaimers to dismiss Finish Line's Rule 10b-5 claim since such waivers are ineffective in such context. 

Interlocutory appeals are seldom granted but this one makes a good case.  I'll have more on Finish Line's and UBS's two arguments in the next few days on the my Deal Professor column on the N.Y. Times DealBook. 

http://lawprofessors.typepad.com/mergers/2008/01/finish-lines-in.html

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