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[In the suit, ABG also says its agreement with the startup entitles the company to buy up to 5% of Bolt for $29 million. Bolt’s filing said it is not obligated
by kumarm 4y ago
[In the suit, ABG also says its agreement with the startup entitles the company to buy up to 5% of Bolt for $29 million. Bolt’s filing said it is not obligated to sell. At Bolt’s current valuation, that stake would be worth about $500 million.]
from the article.
- encryptluks2 4y agoLol I've seen this defense before. Basically a contract days that so and so has the right to purchase with conditions, and the other party says just because they have right of first refusal doesn't mean that they have to sell anything. Best of luck to them in court, but you don't put something like that into a contract just for fun and so hopefully the judge will tell them to cut the shit and honor the deal.