Massachusetts
Massachusetts company sues Vicente Sederberg over failed deal contract
Massachusetts-based Northempton Enterprises is suing Vicente, a law firm that specializes in cannabis, over a failed deal contract.
Northempton said it hired Vicente in 2022 to advise on a deal to sell its cannabis business to a company only identified as XYZ LLC. An asset purchase agreement was signed and then amended for a reduced price of $3.2 million. Northempton claims in the complaint that the amended contract should have included language that said if the deal didn’t close, XYZ would have to pay them for the legal fees and other damages. Instead, it only covered the legal fees.
The complaint stated that in the original agreement, there was such a clause. However, when the price changed, the language only addressed the legal fees and no other potential losses.
Northempton says it noticed the difference and brought the issue up to Vicente lawyer Sahar Ayinehsazian, who told them, “The agreement allows for more than just liquidated damages, so language under the amendment still allows for all other types of damages. While I am happy to change the language, I would urge you to communicate with buyer before doing so, as the attorneys’ fees piece of this agreement has been one of the cornerstone pieces of the overall agreement.”
The company’s complaint didn’t blame Vicente for the failed deal, but it did say it lost money as a result of the failed deal that it wasn’t able to claw back from the XYZ company due to the poor wording of the contract.
The complaint stated that during the deal talks, the seller’s market became a buyer’s market and the value of its business fell by $1 million. They said that they had to wind down its inventory, which caused the company to lose $60,000 a month in sales for 10 months, or $600,000. The attorney fees were $80,000.
Northempton claims to have suffered damages of $4.8 million, which they allege could have collected from the buyer if the original clause had carried over to the amended contract.
The complaint claims that the poorly drafted liquidation damages provision by Vicente was disastrous for the company and they want a jury trial.
1835000-1835077-vicentecomplaint
Several school districts in Massachusetts have delayed the start of classes for Friday, March 6 because of a mix of sleet, freezing rain and snow.
Take a look below for the full list of school closings and delays.
The list displays all public schools in alphabetical order, followed by private schools and then colleges and universities.
Delays on this page are current as of
A body part was found in a pond in Shirley, Massachusetts and investigators said foul play is suspected.
It was discovered around 5:30 p.m. Wednesday as a group of people were walking along Veterans Memorial Bridge on Shaker Road.
Police said the group noticed something suspicious in the water of Phoenix Pond. The Middlesex District Attorney confirmed that the item was a body part, but would not elaborate.
Police shut down the road and divers could be seen exploring the pond late Wednesday. Authorities were back at the scene Thursday morning.
No other information is available at this point in the investigation.
Phoenix Pond connects to the Catacoonamug Brook, which flows into the Nashua River. It’s also connected to Lake Shirley.
Shirley, Massachusetts is about 44 miles northwest of Boston and around 13 miles from the New Hampshire border.
Human remains were discovered Wednesday in the water in Shirley, Massachusetts, and authorities suspect foul play.
Police in Shirley said in a social media post at 7:15 p.m. that they responded to “a suspicious object in the water near the Maritime Veterans Memorial Bridge on Shaker Road.” Massachusetts State Police later said the object was believed to be human remains.
The bridge crosses Catacoonamug Brook near Phoenix Pond.
The office of Middlesex County District Attorney Marian Ryan said a group of young people was walking in the area around 5:30 p.m. and “reported seeing what appeared to be something consistent with a body part in the water.”
Foul play is suspected, Ryan’s office said.
Authorities will continue investigating overnight into Thursday, and an increased police presence is expected in the area.
No further information was immediately available.
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