San Vicente Group Inc. v. Jay Matulich, Christopher Jennings, Stanley Hollander, N. Bulent Gultekin, Ronald Koenig, et al.
Published: Dec. 9, 2003 | Result Date: Aug. 4, 2003 | Filing Date: Jan. 1, 1900 |Case number: BC262800 Verdict – $0
Judge
Court
L.A. Superior Central West
Attorneys
Plaintiff
Defendant
Ben D. Whitwell
(Venable LLP)
Experts
Plaintiff
Charles E. Wheeler
(technical)
Defendant
George Strong
(technical)
Kevin R. Murphy
(technical)
Facts
The plaintiff, San Vicente Group Inc., is a venture capital fund that invested in Internet and technology companies. The plaintiff alleged that the defendants, the plaintiff's former officers and directors, breached their fiduciary duties in connection with company investments, stock repurchases and executive compensation in the form of severance payments. The defendants contended that they had acted prudently and their decisions were protected by the "business judgment rule."
Settlement Discussions
The demand and offer were confidential.
Damages
The plaintiff alleged $20 million in damages for stock repurchases from alleged insiders and executive severance packages.
Other Information
The defendants prevailed on all claims and were awarded their costs.
Deliberation
four days
Length
10 weeks
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