Confidential
Settlement – $1,400,000Court
Los Angeles County Superior Court
Attorneys
Plaintiff
Michael H. Artinian
(Bridgford, Gleason & Artinian)
Richard K. Bridgford
(Bridgford, Gleason & Artinian)
Defendant
Facts
Plaintiff company allegedly entered into a contract with defendant real estate developer for a potential investment in a commercial development project that never consummated.
Contentions
PLAINTIFF'S CONTENTIONS: In all, plaintiff entrusted to defendant a total of $500,000. Plaintiff claimed defendant never returned the $500,000.
Plaintiff also alleged claims for fraud, conversion, breach of fiduciary duty, and constructive fraud against defendant for making misrepresentations to plaintiff, partial disclosures, concealing information, and failing to disclose material facts to plaintiff. Plaintiff also asserted claims of alter ego liability against defendant and various of his limited liability companies.
DEFENDANT'S CONTENTIONS: Defendant claimed that the money plaintiff delivered to defendant was an investment from day one, and therefore, did not owe the money to plaintiff.
Result
The parties settled for $1,400,000.
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