Confidential
Settlement – $40,000Judge
Court
San Diego Superior
Attorneys
Plaintiff
Defendant
Facts
In August 1995, each plaintiff entered into a separate agreement with LRA, Inc (a corporation now in bankruptcy) to purchase 15% interest in an Italian Restaurant to be opened in the Gaslamp District. Plaintiff No. 1 invested $12,000 and plaintiff No. 2 invested $15,000. The plaintiffs also agreed to be employed as waiters and to provide assistance to the operation as part owners. Defendant was the operator for the restaurant, he made the decisions and controlled the finances for the restaurant. The restaurant was sold in April 1997 without the plaintiffs' knowledge. After the sale, defendant claimed that there were no profits or funds to share with the plaintiffs. The plaintiffs filed a complaint for breach of contract, delivery of stock certificates, breach of contract to deliver 15% of net profits, percentage of inventory sold, and unpaid salary. In addition, plaintiff No. 2 filed causes of action for unpaid balance of loan and slander.
Settlement Discussions
The plaintiffs made a C.C.P. º998 settlement demand for $ ______. The defendant made a C.C.P. º998 offer of compromise for $___________.
Other Information
The verdict was reached approximately one year and six months after the case was filed.
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