https://www.law.com/therecorder/2024/07/30/goodwin-procter-secures-defense-win-in-chip-designers-ma-dispute/
NEWS
Silvaco’s dispute with Nangate arose from a stock purchase agreement signed by the two parties at the time of acquisition.
July 30, 2024 at 11:15 AM
4 minute read
What You Need to Know
- Chip-designing software company Silvaco acquired Nangate in 2018.
- In 2020, Silvaco filed a complaint against Nangate seeking declaratory relief following a dispute with Nangate over a stock purchase agreement.
- Nangate filed a cross-complaint and was awarded $6.6 million in damages for fraud and $11.3 million in damages for breach of contract in a jury trial.
Goodwin Procter has secured a victory for three defendants alleging fraud and breach of contract in a long-running earn-out payment dispute with chip-designing software company Silvaco.
A Silicon Valley jury awarded $11.3 million in damages for breach of contract and $6.6 million in damages for fraud against each of the three defendants.
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