SuperPowerAffiliates.com Inc., et al. v. Transportation Insurance Company
Published: Mar. 30, 2004 | Result Date: Feb. 6, 2004 | Filing Date: Jan. 1, 1900 |Case number: SACV02671DOC – $0
Judge
Court
USDC Central
Attorneys
Plaintiff
Defendant
Hellar-Ann Hancock
(Lewis, Brisbois, Bisgaard & Smith LLP)
Facts
The plaintiffs contracted with Transportation's Insureds to develop internet-based software for the Multi-Level Marketing (MLM) industry. The plaintiffs financed their payment under the contract by selling the as-yet undeveloped software to members of the MLM industry. When development of the software took longer than anticipated, the plaintiffs lost their customers and suffered substantial financial consequences. The plaintiffs sued Transportation's Insureds for breach of contract, fraud, securities fraud, negligent misrepresentation, bad faith, RICO, breach of fiduciary duty, negligence, rescission, restitution, resulting trust and constructive trust. Prior to Transportation rendering its coverage determination, the plaintiffs settled the underlying action with Transportation's Insureds for an alleged cash payment (which was never paid) and an assignment of the Insured's rights against Transportation to the plaintiffs.
Settlement Discussions
None
Damages
The plaintiffs claimed approximately $17 million in damages.
Result
Summary judgment for the defendant, Transportation Insurance Co.
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