A company that operates the My/Mo Mochi Ice Cream brand must face claims that it breached a merger agreement when it took advantage of pandemic tax benefits, the Delaware Chancery court said.
The lawsuit centers on a merger between seller Mikawaya Holdings Inc. and its buyer, a subsidiary of MyMo Intermediate Inc. The seller sought to recover portions of tax refunds.
The judge on Wednesday in part rejected the buyer’s motion to dismiss. “Changes to the tax code in the wake of the global pandemic rocked the parties’ bargain” following the $185 million January 2020 sale, the filing said.
The ...
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