Michael Ricci v. Herbert Spunt, et al.
Published: Mar. 6, 1999 | Result Date: Jan. 8, 1999 | Filing Date: Jan. 1, 1900 |Case number: BC173392 Verdict – $0
Judge
Court
L.A. Superior Central
Attorneys
Plaintiff
Paul S. Sigelman
(Sigelman Law Corporation)
Defendant
Lorin D. Snyder
(Stratman & Williams-Abrego)
Facts
Plaintiff Michael Ricci claimed that in 1997, he and defendant Herbert Spunt entered into a written option agreement whereby plaintiff was entitled to 50 percent of the outstanding stock of a company valued at greater than $1 million. The plaintiff filed an action against defendant claiming despite the written option agreement, defendant failed to tender 50 percent ownership of the company upon exercise of the option by plaintiff. The plaintiff submitted a written agreement which contained the original signature of the defendant. The plaintiff further claimed that he had paid all consideration necessary for said option agreement and properly exercised his rights under the agreement. The plaintiff filed an action for, among other things, breach of contract, diversion of corporate funds, intentional and negligent interference, constructive fraud and involuntary dissolution. The plaintiff sought both pecuniary and punitive damages.
Settlement Discussions
The plaintiff made a settlement demand for $300,000. The defendant made an offer of $25,000.
Damages
The plaintiff claimed $500,000 in pecuniary damages and punitive damages.
Injuries
The plaintiff claimed __________ in damages for ____________.
Other Information
The verdict was reached approximately one year and six months after the case was filed. Two mandatory settlement conferences were held before the Hon. Kenneth Freeman, but no agreement was reached.
Poll
_____-______
Length
six days
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