Dealership: Destruction Of Stock Sale Transaction Violates Right Of 1st Refusal

Mealey's (November 1, 2017, 10:32 AM EDT) -- RICHMOND, Va. — A dealership and its subsidiaries in a recent brief argue to the Fourth Circuit U.S. Court of Appeals that a lower federal court ruling that allowed Volvo Trucks North America LLC to destroy a stock sale transaction violated “the very concept of a right of first refusal that is protected by statute—to allow franchisors to step into the shoes of a buyer” (Volvo Group North America, et al. v. Truck Enterprises Inc., et al., No. 17-1638, 4th Cir.)....