EV3, Inc. v. Lesh, M.D.

STRINE, Chief Justice:

I. INTRODUCTION

This is an appeal from a jury verdict finding that ev3, Inc., the buyer of Appriva Medical, Inc. (“Appriva”), breached its contractual obligations to Appriva’s former shareholders, who gave up their shares in the merger. The merger agreement between ev3 and Appriva (“merger agreement”) provided for the bulk of the payments to the Appriva shareholders to be contingent upon the timely accomplishment of certain milestones toward the approval and marketability of a medical device that Appriva was developing.

After it became clear that the milestones were not…