The Tennessee Chancery Court has agreed to hear boththe claims that Genesco suffered a Material Adverse Effect and/or committedfraud in failing to disclose its financial condition to Finish Line and UBS.Originally, the trial was to hear only the MAE argument to determine whether itshould force Finish Line to close on the deal. The court further said it wouldmake a ruling on Genesco’s request for closing the merger agreement to theextent that it does not conflict with UBS’s claims in New York that thesurviving company would be insolvent.

The court said it would bifurcate the proceedings tomake only a ruling on the ... Log in to view full article.