A Medical Device Daily

Datatrak International (Cleveland) said that it has filed a lawsuit against certain former shareholders of ClickFind over numerous breaches of the representations and warranties made by ClickFind in the merger agreement whereby Datatrak acquired ClickFind in February 2006. Datatrak's suit alleges that ClickFind and certain of its former shareholders willfully and fraudulently failed to disclose material information in connection with Datatrak's acquisition of ClickFind, in breach of several of the representations and warranties made by ClickFind in the February 2006 merger agreement.

Datatrak is seeking compensatory and punitive damages from certain of the former shareholders of ClickFind. It is also seeking reformation of the February 2006 merger agreement such that the $18 million purchase price is adjusted to reflect what Datatrak would have paid for ClickFind had ClickFind disclosed the subject material information.

Datatrak International is a technology company specializing in multi-component eClinical solutions and related services for the clinical trials industry. The eClinical software suite can be deployed worldwide through an ASP offering or in a licensed enterprise transfer model.