A Force 10 Partners litigation support team, lead by Expert Witness Adam Meislik, successfully helped defend Idanta Partners Ltd., a venture capital firm, by persuading a California jury to award zero dollars of unjust enrichment. The award followed a 10-year court battle where the plaintiff was seeking $25 million after a finding that the defendants had aided and abetted a breach of fiduciary duty. Force 10 assisted the law firm of Fox Rothschild LLP, who scored their second major victory for Idanta and its principals. Fox was retained to handle an appeal after a jury hit the defendants with a $7 million unjust enrichment award. (Idanta was represented by a different law firm in the first trial.) The Fox Rothschild team was lead by Jon Shaeffer and Jeff Grant.
Shaeffer and Grant convinced the appellate court to toss out the unjust enrichment award and ordered a new trial on that issue. Force 10 was employed to provide expert testimony in the retrial where it calculated and defended its opinion that there was no unjust enrichment.
Following a nearly three-week retrial, the jury deliberated for only two hours before returning a complete defense verdict and awarded the plaintiff nothing, thereby agreeing with Force 10’s opinion.
In the suit, plaintiff American Master Lease, a real estate syndication business, alleged that Idanta had raided its employees and aided and abetted a breach of fiduciary duty. The sole issue on retrial was the amount of unjust enrichment to award.
Force 10 Partners, LLC, is based in Newport Beach, California. The advisory firm has deep domain knowledge in financial and operational corporate restructuring, valuation, forensic accounting, complex litigation support, and computations involved in court proceedings and dispute resolution. Force 10 serves middle-market companies as well as their creditors, stakeholders, and professionals, in roles including financial advisor, interim manager, fiduciary services, expert witness, financier, and M&A advisor.
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