Altama Delta Corp. v. Howell

Johnson, Judge.

In 1987, the shareholders of Altama Delta Corporation sold all corporate stock and assets to Wyatt & Broos Merger Sub, Inc. The business continued to operate under the name Altama Delta Corporation, though Wyatt & Broos eventually sold all the stock and corporate assets to its present owners.

The former shareholders, the 1987 sellers, are the plaintiffs in this action. The terms of the 1987 purchase agreement were memorialized in three documents: A November 18, 1987 “Agreement of Merger”; a December 1, 1987 “First Amendment to Agreement of Merger”; and a December 29, 1987…