Chase Manhattan Mortgage Corp. v. Advanta Corp., 2005 WL 2234608(D.Del., Sept. 8, 2005).
Plaintiffs filed an action alleging that Defendant Advanta engaged in (1) federal securities fraud in violation of § 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j; (2) Delaware securities fraud in violation of 6 Del. C. § 7323(a)(2); (3) common law fraud; (4) negligent misrepresentation; and (5) breach of contract. The claims asserted by both parties arose out of either (1) a Purchase and Sale Agreement (the "Agreement"), pursuant to which Advanta sold mortgage assets to Chase, or (2) a Post-Closing Letter pursuant to which $1,270,000 was placed in a Document Holdback Account. The Court found Defendant Advanta liable to Plaintiff for $17,516,456.43, plus pre-judgment and post-judgment interest, and Plaintiff liable to Defendant Advanta for $824,190, plus pre-judgment and post-judgment interest.