Overview
Law360 covered Steptoe's win for Level 4 Yoga in an article titled "Yoga Studio Chain Can't Nix Suit Over Frozen Purchase Deal." On August 19, a Delaware vice chancellor denied CorePower Yoga LLC's bid to toss a suit by one of its franchisees seeking to force the yoga studio chain to finalize the purchase of 34 studios, ruling he can't yet make a "fact-intensive" decision as to coronavirus-related breach of contract claims.
In April, Level 4 filed suit against CorePower, claiming the yoga studio chain was trying to use coronavirus shutdown-caused closures to back out of the agreement to buy 34 studios, even though there is no force majeure clause permitting it to do so. Level 4 Yoga, which operates franchised yoga studios under CorePower's brand, asserted in its breach of contract suit that the Denver-based company had expressed interest last spring in acquiring the studios, with the parties eventually settling on an April 1 closing date for some of the studios.
Steptoe partner Michael Dockterman argued that there was no basis for CorePower to be granted an early escape from the suit and that the case should move forward so that a factual record can be developed.
Dockterman represents Level 4 Yoga along with Steptoe of counsel John Byron and associate Cara Lawson.
The full article can be read at Law360 (subscription required).
