Kennilworth Partners v. Crisman
Published: Nov. 15, 2001 | Result Date: Oct. 10, 2001 | Filing Date: Jan. 1, 1900 |Case number: 313497 Verdict – $0
Judge
Court
San Francisco Superior
Attorneys
Plaintiff
Daniel S. Mason
(Furth, Salem, Mason & Li LLP)
Defendant
Experts
Plaintiff
Ralph A. Cotton
(technical)
Defendant
Troy A. Dahlberg
(technical)
Facts
The plaintiff, a hedge fund, invested $25 million in Applied Magnetics Corporation, which subsequently went
into bankruptcy. The plaintiff sued three former officers and directors, alleging that they had made false
statements concerning the companyÆs financial affairs with the intent of inducing the investment. In addition to
contending that three former officers and directors had made false statements with the intent of inducing the
investment, the plaintiffs also claimed violations of state securities law and fraud.
The defendants denied that any false statement was made regarding a material fact and
that no material fact had been omitted.
Settlement Discussions
The plaintiff made a demand of $9.5 million. The defendants offered $750,000.
Damages
$25 million representing the loss of the investment.
Deliberation
one day
Poll
11-1 (for defendants on all issues)
Length
six days
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