[M&A] Attribution of knowledge — Obligation to provide information, fraud and fraudulent retention of information — but who actually possesses the information?

It hap­pens fre­quent­ly that fol­low­ing the acqui­si­tion of a busi­ness, the acquir­er, dis­sat­is­fied with the deal, attempts to obtain com­pen­sa­tion for dam­ages on the grounds that sell­er with­held deci­sive infor­ma­tion. Anoth­er fre­quent­ly used strat­e­gy is to try to have the con­tract annulled on the grounds of fraud or fraud­u­lent reten­tion of infor­ma­tion. The acquir­er is…