Abry Partners V, L.P. v. F & W Acquisition LLC

STRINE, Vice Chancellor.

This case involves a request by the buy-side of a corporate acquisition contract— the Stock Purchase Agreement — to rescind that contract. The plaintiffs — a group of entities affiliated with a sophisticated private equity firm named ABRY Partners (hereinafter, largely referred to collectively as the “Buyer”) — bought a portfolio company from an entity owned by another sophisticated private equity firm, Providence Equity Partners (hereinafter, largely referred to collectively as the “Seller”). The portfolio company that was purchased by the Buyer, F & W Publications…