Shareholder Litigation and Related Matters
Samuel Goldman & Associates represents both plaintiffs and defendants in litigation and commercial disputes involving equity owners in various types of business entities, securities fraud, minority shareholder oppression and employment related matters. The Firm’s practice involves litigating in courts throughout the United States and its clients include institutional and individual investors, mid-size and early stage companies and both majority and minority company equity holders.
The Firm brings considerable experience and subject matter expertise to these matters, in addition to its creativity, commitment to practicing law at the highest level and singular dedication to its clients ’ needs.
Representative of the matters the firm has been engaged in recently are the following:
Schermerhorn v. CenturyLink, et al. – SG&A, working with local counsel in Houston, Texas secured an almost $20 million verdict after a jury trial against Robert Kubbernus and Balaton Group, Inc. for securities fraud in relation to various fundraising activities involving SkyPort International, Inc., a Houston based telecommunications company.
Shulsky v. Schron – SG&A represented an owner of a major Manhattan commercial property in a dispute with a co-venturer in connection with a joint venture to redevelop the property. The matter was successfully resolved through settlement.
Tutunikov. v. Markov – SG&A represented the founders and majority shareholders of a financial software company in protracted litigation with two minority shareholders who alleged claims of shareholder oppression. SG&A achieved a highly successful result after a trial in New Jersey state court which proceeded intermittently for approximately one year and an appeal.
Joseph v. Introna – SG&A represented the foreign majority owners of a sports and entertainment business in a New Jersey case in which the local minority owners alleged shareholder oppression and other claims. The matter was resolved through a settlement which accomplished the clients’ litigation objectives.
American Lecithin Company, et al. v. Rebmann – SG&A is representing the former chief executive officer of two United States subsidiaries of a multinational company, in defending claims against him, as well as asserting claims for wrongful termination and misappropriation of his equity in the multinational parent.
Ital Assoc., et al. v. Axon, et al. – SG&A represented the limited partners in a partnership that owned a commercial building in Manhattan in a lawsuit alleging misappropriation, fraud and self-dealing against the general partner and its principal. SG&A negotiated a settlement of the action which provided for the sale of the Property and the distribution of the net proceeds to the Partners. The settlement involved the resolution of the limited partners’ multiple claims against the general partner and it resulted in a recovery of almost $5 million for the limited partners. This recovery represented the first funds that the limited partners had received from the Partnership in the 30 years of its existence.
Ital Assoc., et al. v. Axon, et al. II – This is a similar action to the prior one involving similar claims against the general partner relating to a limited partnership that owned a different Manhattan commercial building. The suit was settled in similar fashion, with the limited partners scheduled to receive $3.5 million, after having gone 30 years without the receipt of any funds from the general partner.
Cohen v. Celsus Therapeutics PLC. - SG&A represented the former chief executive officer of a biotech company in connection with a dispute relating to his termination benefits and equity.
O’Mahony v. Whiston, et al. – SG&A is representing a minority shareholder in a company in the restaurant business in a lawsuit against the majority shareholders for misappropriation of corporate opportunity and shareholder oppression.
DTV Chinese Litigation – SG&A has provided U.S. support to Chinese counsel in connection with a litigation in China involving efforts by U.S. co-venturers to assert their rights in a company that owns and operates a manufacturing facility in China.