Media Trust Performance Marketing v. Webxu Inc.
Sep 18, 2015OUTCOME: We prevailed on all counts and were awarded $700,000 on counterclaim and in fees and costs
Plaintiffs claimed $45 million in damages as a result of an abandoned 2012 acquisition by WebXU, a Santa Monica based branded website developer. After a week-long arbitration before the American Arbitr ... ation Association, the tribunal found that the Plaintiffs failed to prove their case. Counter claims filed on behalf of WebXU also proved successful in rescinding the share exchange agreement based on clear and convincing evidence that the plaintiffs committed fraudulent inducement through intentional misrepresentation and concealment of material facts.