Facts

During the beginning of 2005, defendant Kevin Bae met Jerry Kuo, CEO of plaintiff Paston Industrial Co. Ltd. dba Ampex International Corp. Defendant Bae informed Kuo that he and defendant Passi Inc. were large footwear distributors. Bae told Kuo they were interested to purchase footwear from Paston Industrial, who ultimately contracted with Passi to do business. Defendant Passi would give verbal footwear orders, and Paston Industrial would provide an invoice for each order. Defendants would forward payment within 60 days after the goods were received.

From Oct. 12, 2005 until May 2006, plaintiffs contended that goods were shipped to defendants, who received and accepted the goods. However, Kuo allegedly did not receive full payment. Plaintiffs sued for breach of contract, fraud and intentional misrepresentation, quantum valebant, unjust enrichment, among other claims.

Damages

Plaintiffs sought $328.480.

Result

Parties settled for $328,400.

Other Information

FILING DATE: Jan. 16, 2008.