Tag: Buyers Beware: Seventh Circuit Holds Asset Purchaser Liable for Target Company’s Fair Labor Standards Act Violations under Successor-in-Interest Liability
Buyers Beware: Seventh Circuit Holds Asset Purchaser Liable for Target Company’s Fair Labor Standards Act Violations under Successor-in-Interest Liability
In the world of mergers and acquisition law, corporations and their attorneys have long used asset purchases to avoid a target company’s unsavory liabilities. The strategy is relatively straight-forward: by purchasing the target’s assets only, the buyer typically avoids the target’s liabilities, which the buyer would otherwise have to assume in a merger or stock