CorePower Says It Had Right to Back Out of Deal Over Coronavirus

CorePower Yoga LLC fired back in Delaware court Tuesday at a claims that it wrongly broke off a $23 million buyout of 34 franchise locations shuttered by the coronavirus, saying the yoga studios’ owner assumed the risk of a “disaster” like the pandemic.

“Plaintiff’s characterization of the calamitous consequences of the Covid-19 pandemic (as a temporary or inconsequential hiccup) is not only irrelevant but will not withstand scrutiny,” CorePower says in a Chancery Court filing. “Plaintiff’s effort to diminish the severity and prolonged impact of this pandemic should not be well received.”

The lawsuit against CorePower, filed in April, is part of a wave of suits asking courts to keep mergers on track as… READ MORE @ Bloomberg LAW