Vadym Kvyetko v. Wealthclasses LLC; Wealth Classes Inc.; Norcal Capital Management LLC; Norwealth Investments LLC; American Opportunity Partners LLC; 1102 Taraval LLC; 647 Duncan Street LLC; Residential Funding Solutions LP; 3066 Market Street LLC; George Antone; Gary Boomershine; Haider Nazar; Damien Quinn; John Taylor, and Does 1 to 50
Published: Sep. 22, 2017 | Result Date: Aug. 22, 2017 | Filing Date: Jun. 20, 2014 |Case number: CGC-14-536971 Settlement – $130,000
Attorneys
Plaintiff
Bryan J. McCormack
(McCormack Law Firm)
Defendant
Timquin Larsen
(Law Office of Timquin Larsen )
Facts
Plaintiff sued Haider Nazar and others in relation to wealth management classes he attended that were administered by defendant Wealth Classes Inc. and taught by the individual defendants.
Contentions
PLAINTIFF’S CONTENTIONS: Plaintiff claimed that defendants promised him significant financial profits if he invested in various investment opportunities, but that he never received any returns on his $1 million investment.
Plaintiff filed causes of action for fraud, breach of contract, common counts and general negligence.
DEFENDANTS’ CONTENTIONS: Defendants denied plaintiff’s allegations and asserted various affirmative defenses.
Result
Defendants agreed to pay plaintiff $499,998, with Nazar agreeing to pay one-third of the total settlement amount. After Nazar failed to pay the total amount of his share, plaintiff moved to enforce the terms of the settlement agreement in the amount of $130,000. Plaintiff's motion was granted.
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