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14:18
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Originally posted by 82Punter:
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A key issue in this dispute is that Adams and Bosio were provided with confidential information by VMC in relation to PW AND their proposed acquisition. Adams and Bosio were engaged by VMC to provide professional consulting services regarding VMC's proposed acquisition and hence they owed contractual and fiduciary duties to VMC to act act in the best interests of VMC and to avoid any conflicts of interest. Those duties included to not compete with VMC in any bid for PW, not to disclose any of the confidential information to any other party, and to provide the advice that they were engaged to give in a manner that was objective and not clouded by their own self interest or the interest of another (i.e SPX).the right deal ?? I mean, Adams and Bosio would have known the terms or at least the key terms that VMC would have been prepared to make the acquisition and so to have the 'right deal' would have been easily done as they knew what the next best deal was already.
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The discovery process in this litigation is going to be very important as SPX board minutes and internal docs will all need to be produced.
(20min delay)