Interesting M&A Decision Out of California (9th Circuit Court of Appeals)
"We are asked to decide an issue of first impression under California law, whether a provision within a Stock Purchase Agreement (“SPA”) permitting the representations and warranties of the parties to survive closing, also serves as a contractual statute of limitation that reduces a longer period otherwise provided by California law. Because the provision at issue does not unambiguously state the parties’ intent to contractually reduce the applicable California statute of limitation to one year, we reverse and remand."
