In a unanimous decision, the Court of Appeals held that the former shareholders — Centro Empresarial Cempresa S.A. and Conecel Holding Ltd. — were barred from bringing fraud and breach-of-contract claims by a general release entered into in 2003, when they sold their remaining shares in Telmex Wireless Ecuador LLC for approximately $64 million dollars.”Having executed this release, plaintiffs cannot now claim that defendants fraudulently misled them regarding the value of their ownership interests in TWE unless the release was itself induced by a separate fraud,” Judge Carmen Ciparick wrote for the court.
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