Confidential
Settlement – $1,744,500Judge
Court
L.A. Superior Pomona
Attorneys
Plaintiff
Defendant
Facts
On May 11, 1997, the plaintiff doctor entered into a contract to sell the assets of 30 medical clinics to the defendant. He then sought to rescind the contract on the grounds of illegality and fraud. The plaintiff brought this action against the defendant based on fraud and seeking rescission. The defendant filed a cross-complaint for breach of contract.
Settlement Discussions
The plaintiff made a C.C.P. º998 settlement demand for $_____________. The defendant made a C.C.P. º998 offer of compromise for $_______________.
Damages
The defendant/cross-complainant claimed loss of profits from the alleged breach of contract in excess of $10 million.
Other Information
The settlement was reached approximately 11 months after the case was filed. ARBITRATION: An arbitration was held on May 28, 1998, before the Hon. John Arguellas of IVAMS, resulting in the reported settlement.
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