Tagged: virtual reality

MBBP’s Shannon Zollo quoted in Corporate Counsel article discussing Facebook’s M&A due diligence of its acquisition of Oculus VR

In an article published in ALM’s Corporate Counsel, corporate partner Shannon Zollo commented on Facebook’s M&A due diligence ahead of its approximately $2 billion acquisition of virtual reality developer Oculus VR. SSZ Headshot Photo 2015 (M0846567xB1386)Video game creator ZeniMax Media Inc. sued Oculus, and Facebook once it purchased Oculus, on several allegations, including copyright infringement. In the trial, Facebook’s CEO Mark Zuckerberg was questioned about whether the one weekend his company was given to perform due diligence was enough time.

Shannon notes that “as a general rule, due diligence under normal conditions can take at least a few weeks, if not a few months”, and that proper due diligence could be difficult to conduct under such a short time frame, especially when intellectual property is a key component of the deal. Jury deliberations have begun in the trial.

For further detail on the case and on Shannon’s comments on due diligence, read the full article.